News

Hilco Industrial, Rabin Worldwide and Capital Recovery Group have acquired the assets of Austin, Minnesota-based Bellisio Foods. No financial terms were disclosed. Hilco, Rabin and CRG have put up for sale Bellisio Foods’ frozen food processing and packaging facility.

PRESS RELEASE

AUSTIN, Minn., Sept. 11, 2018 /PRNewswire/ — Hilco Industrial has announced today that they have acquired the assets of Bellisio Foods in Austin, Minnesota. The multi-million-dollar acquisition deal is a joint venture with Rabin Worldwide and Capital Recovery Group. This frozen food processing and packaging facility is currently available for sale as a “turnkey” offering. Bellisio Foods is continuing operations at its other facilities.

This turnkey offering includes real estate, buildings, building improvements, and all machinery and equipment. This is a unique opportunity for a buyer to immediately purchase and begin operating a complete frozen food production and contract manufacturing operation.

This sale features a 120,000 sq. ft. facility – a 100,000 sq. ft. production/warehouse building on a 12-acre lot, (5) Sauce kitchens with (20) kettles to 700 gal, Triangle VFFS frozen product weigher & bagger, 2016 Colborne pot pie line w/ double tier spiral freezer, Ishida 14 head SS weigher, Prodo Pak VFFS packagers, blenders, heat exchangers, Breddo Liquifiers, pump sets, palletizers, packaging equipment and much more.

Interested parties can schedule an inspection or make a turnkey offer by contacting Brent Bonham, [email protected] or +1 616.328.6890.

If the enterprise is not sold as turnkey, a public auction will be held on October 25, 2018. Further details are available at https://www.hilcoind.com/sale/frozen-food.

Hilco Industrial (www.hilcoind.com) provides industrial asset disposition services, specializing in machinery, equipment and inventory auctions and negotiated sales. It sells the broad range of industrial assets found in manufacturing, wholesale and distribution companies. Hilco Industrial performs dispositions through on-site, online and combination webcast auction sale events as well as negotiated (private treaty) sales. In addition to providing services on a fee or commission basis, Hilco Industrial has capital to put at risk and often acquires assets or provides guarantees. Hilco Industrial is headquartered in Grand Rapids, Michigan, and operates as a part of Hilco Global (www.hilcoglobal.com), the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.

Rabin Worldwide (www.rabin.com) is a family-held industrial auction and real estate investment company, with a focus on the acquisition and sale of industrial equipment and facilities around the world. As leading industrial and commercial liquidators, Rabin has sold equipment assets in every trade sector and on almost every continent. With a unique combination of financial strength, diversified experience and unparalleled professional expertise, Rabin has the experience and flexibility to take on a deal of any size and complexity. Rabin is headquartered in San Francisco, with a European subsidiary office in Manchester, United Kingdom.

CRG (crgllc.com) is a global private equity firm that creates liquidity for its clients through expertise, innovative solutions, and access to worldwide markets. Specializing in complex scenarios comprised of industrial assets and real estate, we revitalize idle or marginally productive assets and liquidate surplus. CRG resources afford the flexibility to deploy CRG capital and directly purchase assets or debt, invest in equity, or perform a combination that delivers optimal solutions for the client. CRG is headquartered in Enfield, Connecticut.

Bellisio Foods, Inc (www.bellisiofoods.com). As the third-largest producer of frozen entrées in the United States, Bellisio Foods has a daily production capacity of over two million meals. These include single-serve and multi-serve entrées, snacks, side dishes and specialty sauces. While most of Bellisio’s products are branded, the company also manufactures private label and co-pack retail products. Today, Bellisio markets more than 400 products spanning across a wide variety of categories.