August 15, 2023
After a three-month steady increase from April through June for Food and Beverage sector construction projects, the month of July remained flat compared to June. There were 78 new projects in July compared to 79 in June.
IRI Sales Leads reported that of the 78 projects, 45 were new processing facilities and 35 were distribution and industrial warehouses.
Food and Beverage Project Scope/Activity
New Construction - 34 New Projects
Expansion - 21 New Projects
Renovations/Equipment Upgrades - 19 New Projects
Plant Closing - 5 New Projects
Top 10 Project Locations
Florida - 9
New York - 8
California - 7
Illinois - 6
Texas - 5
Georgia - 4
Virginia - 4
Kentucky - 3
North Carolina - 3
Ohio - 3
During the month of July, the IMI SalesLeads research team identified 6 new Food and Beverage facility construction projects with an estimated value of $100 million or more.
The largest project is by Plant Agricultural Systems, an ag infrastructure company, which is planning to invest $670 million for the construction of multiple processing facilities totaling 13 million sq. ft on a 700-acre site in Lubbock, TX. The company is currently seeking approval for the project.
Top 10 Tracked Food and Beverage Projects
Japanese probiotic milk manufacturer Yakult is planning to invest $305 million for the construction of a processing facility in Cartersville, GA. The company has recently received approval for the project. Completion is slated for 2026.
Food service distributor Performance Food Group is planning to invest $117 million for the construction of a 350,000-sq.-ft distribution facility in St. Louis, MO. It is currently seeking approval for the project and will relocate operations upon completion.
Walmart is planning to invest $108 million for the expansion and equipment upgrades on their distribution center in Seymour, IN. Construction is expected to start in late 2023, with completion expected in 2024.
Gaffney Bakery is planning to invest $96 million for the renovation and equipment upgrades on a 145,000-sq.-ft processing facility in Gaffney, SC. The company recently received approval for the project. Completion is slated for summer 2024.
Coca-Cola Canada Bottling Ltd. is expanding and planning to invest $70 million for the construction of a 60,000-sq.-ft warehouse in Calgary, AB. They are currently seeking approval for the project.
Beverage wholesaler Breakthru Beverage Co. is planning to invest $40 million for the expansion of their distribution center in Tampa, FL, by 500,000 sq. ft. They are currently seeking approval for the project.
Singapore Finc and Huayuan Food Group are planning for the construction of a 258,000-sq.-ft processing facility in Houston, TX. The two companies are partnering on an edible fungus factory and are currently seeking approval for the project. Construction is expected to start in late 2023, with completion in late 2024.
Puratos Group, a bakery company, is planning for the renovation and equipment upgrades on their processing facility in Pennsauken, NJ. Completion is expected in 2025. The bakery is also planning to relocate their distribution operations to a recently acquired 194,000-sq.-ft distribution center in the same city.
Coca-Cola Consolidated is planning to invest $15 million for the expansion of their processing facility in Monroe, NC by 42,000 sq. ft. Completion is slated for fall 2024.
Golden Pet Manfacturing, a pet food manfucturer, is planning for a 130,000-sq.-ft expansion of their processing facility in Richfield, WI. The manufacturing company is currently seeking approval for the project.
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