Investment firm buys four Best Brands plants
March 24, 2008
by Eric Schroeder
NEW YORK — Investment firm W.P. Carey & Co. L.L.C. announced it has purchased four manufacturing facilities with a combined 665,000 square feet from Best Brands Corp. for approximately $50 million. The facilities are located in Colton, Calif.; Dallas; Bonner Springs, Kas.; and Eagan, Minn. W.P. Carey said it will lease the facilities back to Best Brands on a long-term basis. Based in Minnetonka, Minn., Best Brands is a manufacturer and distributor of specialty bakery products, specializing in frozen laminated dough, frozen baked cakes, frozen muffins and bakery mixes.