Sazerac Acquires Former General Mills Plant

Posted: Updated:
(photo courtesy New Mill Capital Holdings and Tiger Group) (photo courtesy New Mill Capital Holdings and Tiger Group)
NEW ALBANY -

Louisiana-based Sazerac Co. Inc. has made the first step in its recently-announced plans to locate a new alcohol bottling facility in Indiana. The company has purchased the former General Mills plant in New Albany for an undisclosed sum, a move that is part of an overall $66 million investment that is expected to create up to 110 jobs by 2021.

A joint venture between New Mill Capital Holdings LLC and Tiger Group sold the facility to Sazerac. The 455,000-square-foot plant closed in 2016 and the joint venture acquired it later that year in order to clear it out and make it more marketable to its next user. 

"We couldn't be more excited to help facilitate Sazerac's expansion into Indiana through its purchase of the former Pillsbury plant," said Tom Murray, a principal at NMCH, "When we acquired this plant in late 2016, we knew we'd have our work cut out for us. But in partnership with the city of New Albany, One Southern Indiana, the Indiana Economic Development Council and our commercial brokers, we worked tirelessly as a team to ready this plant for its next phase and to put it in a position to best attract a company of Sazerac's caliber. We are thrilled with the economic impact this operation will have on the surrounding community and look forward to seeing Sazerac thrive here in the years to come."

When the project was first announced last month, Sazerac said it would renovate and equip the facility, which is expected to begin operations by the end of the year with 50 new employees. The company has been offered various incentives from the Indiana Economic Development Corp. and the New Albany City Council.

  • Perspectives

    • Investing Lessons from Mount Elbert

      With little mountain-climbing experience under any of our belts, a few friends and I decided to take on Mount Elbert, Colorado’s tallest mountain. While regular climbers may not consider this “Gentle Giant” a tall task, it was for us inexperienced climbers.  Is investing your “tall task”? If so, you can learn a lot from our experiences. And you won’t have to climb a mountain to do it!

    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

    • ‘Potential’ Fueling Downtown Makeover in Fort Wayne

      As Fort Wayne prepares to christen its latest big downtown project, Mayor Tom Henry says there are no signs of transformational development slowing down in the state’s second largest city. The Landing, a $34 million downtown redevelopment project, is expected to officially open soon, one of an estimated 14 projects that Henry says can help Fort Wayne become a destination city. Since the opening of Parkview Field more than a decade ago, Henry says momentum has...

    • New study reveals best place in Indiana for young families

      And the Best Place for Young Families Goes To...

      What do you look for in a community when deciding where to start a family and raise your children? There can be several factors to weigh in making a sound decision. Housing affordability. Unemployment rates. Quality of education. Mortage website Lendingtree.com has released the results of a study pointing to the best places for young families in Indiana.

    • (image courtesy of WPTA TV)

      Indiana Plants Impacted by UAW Strike

      The United Auto Workers union, which totals approximately 49,000 workers at 33 General Motors Co. (NYSE: GM) plants nationwide, went on strike at midnight. The strike affects workers at GM plants in Fort Wayne, Bedford, Marion and Kokomo. The Fort Wayne plant, which assembles full-size pickup trucks, employs about 4,500 UAW workers. Our partners at WPTA-TV in Fort Wayne report several hundred were seen on the picket line throughout the day. In all, about 7,000 UAW...

    • Photo courtesy of Bristol Parks

      Startup Plans to Add 250 Jobs By 2021

      A metal forming startup is seeking to use a facility in Bristol that has been empty since 2017 for a major manufacturing operation. The Elkhart Truth reports Brinco will invest $52 million in the project and add 250 jobs.

    • Diamond K Sweets Fudge O'Bits

      Spencer Confectionery to be Featured on QVC

      Spencer-based Diamond K Sweets will feature their trademark product this fall on QVC. The company's Fudge O'Bits Holiday Bundle will soon be offered to QVC shoppers, which features its company's top  four selling flavors of fudge.