US-based dairy manufacturer HP Hood has acquired a 360,000 sq ft dairy facility in Batavia from Dairy Farmers of America, the latter having purchased the plant for $60 million from Muller Quaker Dairy when the venture closed in 2015.
It is claimed that the total investment will be more than $200 million, including a purchase price of $54 million for the plant. Approximately 230 jobs are expected to be created as a result of the acquisition, which will also see the facility expanded with an additional 100,000 sq ft warehouse.
The milk processing facility, planned to be operational by early 2019, was once owned by Muller Quaker Dairy, a joint venture between PepsiCo and Theo Muller Group.
It is reported that the deal includes taking over the obligations of Muller Quaker Dairy for the property, in addition to certain taxes and fees.
Source: USA Today