Cook Group Completes Acquisition of Former GE Plant

Posted: Updated:
Cook Group in Bloomington is one of the largest life sciences companies headquartered in the state. Cook Group in Bloomington is one of the largest life sciences companies headquartered in the state.
BLOOMINGTON -

Bloomington-based Cook Group Inc. has completed the purchase of the former GE refrigeration plant site on the city’s west side. The company says the property will help accommodate its growth and lead to 500 new jobs in the Monroe County city over the next 10 years.

Cook Group announced plans to acquire the property in September, along with the $950 million sale of its Cook Pharmica business to New Jersey-based Catalent Inc. (NYSE: CTLT). President Pete Yonkman says the move reaffirms the company's commitment to Bloomington.

"We started in southern Indiana over 50 years ago," said Yonkman. "We’re excited for all the opportunities available at the old GE facility to support our growth in the coming years. "We need more space to accommodate our growth and to enable us to expedite modernization and transformation of our manufacturing process. The flexibility that the GE space provides will allow us to purpose build for efficiency in our production lines. The GE site is one of the only existing buildings in Bloomington that can meet our needs, and its close proximity to our global headquarters allows us to expand our west side campus."

Financial terms of the acquisition were not disclosed. GE closed the Bloomington plant in August 2016 and Cook Group says it will invest in the property to help revitalize the area.

Last month, the company completed the sale of Cook Pharmica, which is now known as Catalent Bloomington.

  • Perspectives

    • An Antidote For First-Time Homebuyer Jitters

      If you're a Millennial like I am, chances are you're in the market to purchase your first home. It's exciting!  But since it's most likely the largest purchase you've ever made, it can quickly turn into a nerve-racking endeavor. Having just completed a transaction, I found that following these guidelines can ensure a smooth process. Every homebuyer's experience will be different because of a number of variables such as what state you live in and the condition of the housing mark...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (Image of Gene Renuart courtesy of the Indiana Innovation Institute.)

      Agreement Paves Way For More Trusted Microelectronics Collaboration

      A new four-way partnership aims to boost the state's national position in the field of trusted microelectronics. The Indiana Innovation Institute, the Crane Naval Surface Warfare Center, Indiana University and Purdue University have inked a cooperative research and development agreement that officials say will drive research, talent and economic development. The collaboration will work to develop microelectronics that are...

    • The Finish Line Acquisition Complete

      The nearly $560 million acquisition of Indianapolis-based The Finish Line Inc. is complete. The deal by JD Sports Fashion plc, a retailer headquartered in the United Kingdom, was announced in March. Finish Line shareholders last week approved the transaction. The Finish Line is now a wholly-owned subsidiary of JD Sports. Finish Line Chief Executive Officer Sam Sato will remain with the surviving corporation and will maintain a seat with the board of directors.

    • (Image courtesy of IU Health West.)

      IU Health West President Updates $80M Expansion

      As executives continue to receive feedback about an $80 million expansion of Indiana University Health West Hospital in Avon, newly-appointed President Art Vasquez says the project is focused on the future. Plans call for four dozen additional beds, a new operating room and additional laboratory and support service space. Vasquez tells Inside INdiana Business capacity issues at the 14-year-old Hendricks County facility have led to hundreds of patients a year being transported elsewhere.

    • Delta Begins Nonstop to Seattle

      Delta Air Lines now offers a nonstop flight from Indianapolis International to Seattle-Tacoma International Airport. The first flight leaving Monday night will be a milestone for the Indy airport, since it will now connect to all Delta hubs in the U.S. 

    • (photo courtesy of our partners at the Daily Journal)

      Bargersville Company to Partially Relocate

      A nearly 80-year-old company in Johnson County is looking to expand. Our partners at the Daily Journal report Bargersville-based Roy Umbarger and Sons is planning to invest $13 million to relocate its feed division to a site near Franklin.