General Mills Pillsbury plant in New Albany, Indiana
The former General Mills plant sits on about 34.5 acres. 

NEW ALBANY, IND. – General Mills, Inc. has sold a closed plant in New Albany, Ind., that formerly manufactured dough products. A joint venture of New York-based New Mill Capital Holdings and Tiger Capital Group bought the plant and a large portion of its production equipment in a transaction that closed Nov. 14 for an undisclosed price.

Minneapolis-based General Mills began operating in New Albany in 1959, but in 2015 the company announced plans to close the facility.

The plant sits on about 34.5 acres. The new owners intend to remarket the real estate for food or non-food manufacturing uses and to auction the remaining equipment early in 2017.

“We are proud to be the new owners of the former General Mills plant,” said Gregory Schain, principal of New Mill Capital Holdings. “This plant is one of the highest quality food production and distribution facilities currently available in the Midwest. Between the high capacity waste water treatment, cooler space, rail access, storage silos and many other amenities, this is turnkey space suitable for a variety of process and packaging operations.”