|
|
7/15/20
|
MAG Capital Partners LLC has completed the acquisition and 20-year leaseback of a 28.5k sf baby food manufacturing facility in California’s Central Valley. The fully-leased property was sold by Initiative Foods, the largest private label baby food manufacturer in the United States.
The built-to-suit, state-of-the-art automated manufacturing facility is located at 1945 Industrial Way, south of Hwy 180 and west of Newmark Ave in Sanger, about 17 miles east of Fresno. It was completed in November 2019 for the award-winning baby food maker. Initiative Foods produces over 50 varieties of premium organic products made from locally sourced fruits and vegetables.
Initiative Foods was founded in 2002 in the lush Central Valley, where it has immediate access to freshly harvested organic products such as squash, pears, sweet potatoes, carrots, and other fruits and vegetables. In 2019, Initiative Foods earned a Small Business of the Year award from California Senator Melissa Hurtado when it recently became the largest private label baby food manufacturer in the United States. Here at RENTV, we enjoy Initiative’s products on a daily basis.
MAG Capital Partners, led by principals Dax T.S. Mitchell and Andrew Gi, was represented in the transaction by Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP. Chelsea Mandel with Stream Capital Partners repped the seller. The acquisition is MAG Capital Partners' fourth investment in the second quarter of 2020 as the firm continues to expand its net-leased industrial portfolio.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
