NEW ALBANY, IND. — The Sazerac Co., a privately-held distilling company, has acquired a former General Mills Pillsbury plant in New Albany from New Mill Capital Holdings, L.L.C. and Tiger Group. The 460,000-square-foot facility will be used for processing, blending, packaging and distribution of premium spirits.
New Mill Capital Holdings and Tiger Group purchased the property in 2016 and auctioned off General Mills’ equipment to prepare the site for a new occupant.
“Sazerac’s purchase of the plant is the final step in breathing life back into an asset that was vital to the southern Indiana economy during its nearly 60-year operation as a Pillsbury biscuit facility,” said Chad Farrell, managing director of Tiger’s commercial and industrial division.
“We couldn’t be more excited to help facilitate Sazerac’s expansion into Indiana through its purchase of the former Pillsbury plant,” said Tom Murray, a principal at New Mill Capital Holdings. “When we acquired this plant in late 2016, we knew we’d have our work cut out for us. But in partnership with the city of New Albany, One Southern Indiana, the Indiana Economic Development Council and our commercial brokers (Matt Hartlage of JLL and Jeff Counsell of Global Food Properties), we worked tirelessly as a team to ready this plant for its next phase and to put it in a position to best attract a company of Sazerac’s caliber. We are thrilled with the economic impact this operation will have on the surrounding community and look forward to seeing Sazerac thrive here in the years to come.”
Sazerac anticipates beginning operations as early as November and expects the facility may be at full capacity by the end of 2021. The company is investing an estimated $66 million in the project and expects to create more than 100 jobs.
“We are excited to take this final step toward acquiring our new location in New Albany,” said Jeff Conder, vice-president of manufacturing for Sazerac. “It will be a great complement to our other manufacturing locations. We are eager to begin construction, start the hiring process, and to get this plant up and running by the end of this year. We look forward to being a part of the community in Southern Indiana.”