Background: Rabin purchased a complete frozen food plant that manufactured prepared meals from Bellisio Foods. Bellisio had kept the plant fully intact and needed to shut it down for internal reasons. The company had invested a staggering $16 million into the building and equipment. The equipment was in pristine condition.
Rabin ran a complete turnkey sales process and an auction plan in tandem, knowing that buyers could come from the real estate brokerage community or from Rabin’s customers. The process resulted in several potential buyers.
Result: In the end, one of Rabin’s long time auction customers, Harlan Bakery, purchased the complete facility. Harlan bought the facility to expand its pie lines and take advantage of the in-place infrastructure. The turnkey purchase brought jobs and industry back to the community, to the delight of the neighborhood.