April 15, 2019
A public sale of assets estimated at more than $200 million in soup cooking, processing, filling and packaging will be open to the public once the Campbell Soup plant is decommissioned in May.
TCL Asset Group Inc., Corporate Assets Inc., Rabin Worldwide and Capital Recovery Group LLC, recently announced the acquisition of assets from the Campbell’s Soup Toronto, Ont. processing plant, and their plans to auction off those assets.
This joint venture will be selling off the equipment from the 600,000 sq. ft. plant, and is is expected to attract not only manufacturers in the soup production industry, but buyers from other food and beverage sectors globally.
A private negotiated sale of the facility’s major assets is ongoing now and will be held until the end of this summer. At that point, there will be a multi-day onsite and online public auction sale of all remaining assets.
Assets include canning and aseptic filling and packaging lines which are capable of handling the 20 million-plus cases of soup manufactured from the site annually.
Specific assets available include:
“This sale is the largest food processing machinery and equipment offering ever held in Canada,” says one representative from the joint venture partnership. “This highly significant event gives buyers the opportunity to acquire high-quality equipment from an iconic food production company.”
The joint venture is welcoming all offers for pre-sale of equipment.
The auction sale date will be announced later this year.
Information about the sale can be found on the TCL website (www.managingyourassets.com), Corporate Assets’ website (www.corpassets.com), Rabin Worldwide’s website (www.rabin.com) and Capital Recovery Group LLC (www.crgllc.com).