Kraft Heinz Sells Its Madison, Wis., Facility to Reich Brothers Holdings, LLC
Public Company Information:
MADISON, Wis.--(BUSINESS WIRE)--The Kraft Heinz Company (NASDAQ: KHC) and Reich Brothers Holdings, LLC., announced today that they have completed an agreement by which Reich Brothers will purchase the former Oscar Mayer facility located at 910 Mayer Ave., on Madison’s East Side.
Kraft Heinz closed the factory in June 2017 after an extensive review of its North American supply chain footprint, capabilities, and capacity utilization. Oscar Mayer hot dogs, cold cuts and Lunchables previously produced in Madison were transitioned to other Kraft Heinz facilities in the United States.
“We’re pleased to announce that Reich Brothers has agreed to purchase the historic Oscar Mayer facility,” said Michael Mullen, SVP of Corporate & Government Affairs at The Kraft Heinz Company. “We want to thank Mayor Paul Soglin, Gov. Scott Walker and their teams for working closely with us as they sought to redevelop this site. Oscar Mayer is a special brand, and remains an important and successful part of the Kraft Heinz portfolio. We will always be grateful to Madison and the dedicated employees whose work contributed to this brand’s wonderful history over the years.”
“This property is an integral part of Madison’s history, as well as the history of food manufacturing in the United States,” said Adam Reich, Co-CEO of Reich Brothers Holdings, LLC. “We understand the importance of the facility and the impact that its closing has had on the area. We look forward to repositioning it for future use, taking into account the values, desires and needs of the community. We will work closely with local officials to achieve these goals.”
About Reich Brothers Holdings, LLC:
Reich Brothers Holdings, LLC specializes in acquiring turnkey manufacturing plants and provides for the bulk purchase of equipment packages and monetization through the auction sale process. Reich also has a lending division, which provides term loans and sale-leasebacks; and a decommissioning division. Reich Brothers is partnered with Victory Park Capital, a privately held registered investment advisor dedicated to alternative investing in middle market companies across a diversified range of industries. For more information, visit www.reichbros.com.
About Kraft Heinz:
The Kraft Heinz Company (NASDAQ: KHC) is the fifth-largest food and beverage company in the world. A globally trusted producer of delicious foods, The Kraft Heinz Company provides high quality, great taste and nutrition for all eating occasions whether at home, in restaurants or on the go. The Company’s iconic brands include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Smart Ones and Velveeta. The Kraft Heinz Company is dedicated to the sustainable health of our people, our planet and our Company. For more information, visit www.kraftheinzcompany.com.