Investment firm buys beef processors
July 31, 2007
by FoodBusinessNews.net Staff
NEW YORK — Investment firm W. P. Carey & Co. LLC has acquired two beef processing facilities for about $9 million. The two facilities — Mountain City Meat Company’s Denver plant and O’Charley’s Inc.’s plant in Nashville, Tenn. — total about 250,000 square feet. W.P. Carey will lease the facilities back to Mountain City Meat to help the company grow.
Mountain City Meat is a beef processor that supplies custom cuts of steak and ground beef to restaurant, foodservice and retail customers. O’Charley’s, a multi-concept restaurant company, previously had produced its own beef and other food products to use in its restaurants.
"We are excited to be a participant in Mountain City Meat’s growth," said Gino Sabatini, executive director at W. P. Carey. "They are a premier custom meat processor and we look forward to a long-term relationship. Their management team and business focus are emblematic of the type of companies with which we seek to invest."