The Kraft Heinz Co. and Reich Bros. Holdings LLC, have completed an agreement by which Reich Bros. will purchase the former Oscar Mayer facility located in Madison, Wisconsin, at 910 Mayer Avenue on Madison’s East Side.
Kraft Heinz closed the factory in June of this year after a review of its North American supply chain footprint, capabilities and capacity utilization. Oscar Mayer hot dogs, cold cuts and Lunchables previously produced in Madison were transitioned to other Kraft Heinz facilities in the U.S.
“We’re pleased to announce that Reich Brothers has agreed to purchase the historic Oscar Mayer facility,” said Michael Mullen, SVP of corporate and government affairs at The Kraft Heinz Co. “We want to thank Mayor Paul Soglin, Gov. Scott Walker and their teams for working closely with us as they sought to redevelop this site. Oscar Mayer is a special brand, and remains an important and successful part of the Kraft Heinz portfolio. We will always be grateful to Madison and the dedicated employees whose work contributed to this brand’s wonderful history over the years.”
“This property is an integral part of Madison’s history, as well as the history of food manufacturing in the United States,” said Adam Reich, co-CEO of Reich Bros. “We understand the importance of the facility and the impact that its closing has had on the area. We look forward to repositioning it for future use, taking into account the values, desires and needs of the community. We will work closely with local officials to achieve these goals.”
Reich Bros. specializes in acquiring turnkey manufacturing plants and provides for the bulk purchase of equipment packages and monetization through the auction sale process. Reich also has a lending division, which provides term loans and sale-leasebacks; and a decommissioning division. Reich Brothers is partnered with Victory Park Capital, a privately held registered investment advisor dedicated to alternative investing in middle market companies across a diversified range of industries.