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.