FEDERALSBURG, MD. — New Mill Capital Holdings of New York has acquired a 103,000-square-foot plant in Federalsburg that previously served as a bread and dehydrated product operation for Stove Top Stuffing and other products of the Kraft Heinz Co. Financial terms were not disclosed.
New Mill Capital now will look to remarket the plant and property in hopes of bringing new activity to the site.
“We’re very excited to be the new owners of the bakery in Federalsburg,” said Tom Murray, principal of New Mill Capital Holdings. “This is a great opportunity for anyone looking for expanded bread production capacity and the ability to also produce a dehydrated bakery or crouton type of product.”
The transaction included major production equipment used in the plant, including bulk powder handling, large batch mixing and gas-fired tray ovens.
“Much of the equipment is late model,” said Eric Weiler, principal of New Mill Capital Holdings, who manages the firm’s food processing and packaging disposition efforts. “With three complete drying lines and bulk packaging, the plant offers significant options for an operator going forward.”
The Federalsburg facility sits on 22 acres and is within a 200-mile radius of major East coast ports, including Baltimore, Washington, Philadelphia, New York and Norfolk, Va. In addition to being a turnkey bakery, the plant has ample infrastructure to work for other food and non-food uses, New Mill Capital said.