January 26, 2017
Joint venture partners New Mill Capital and Tiger Group are planning a live webcast auction to sell assets at a former Pillsbury dough production plant in New Albany, IN. The two companies are also accepting purchase or lease offers for the 450,000-square-foot plant and refrigerated warehouse space, which is situated on approximately 34.5 acres at 707 Pillsbury Lane.
The owners acquired the abandoned plant and equipment in November 2016 for $5 million from General Mills Inc. The plant had been operating since 1959, producing refrigerated dough products. General Mills announced in January 2015, that it would be selling the plant, then shuttered it in September 2016.
Live and webcast bidding for the processing and production equipment will take place at the facility beginning 10 a.m., central time, on Feb. 16. A subsequent online-only auction will take place at 10 a.m. central time, on Feb. 21 for the balance of the assets.
For comments, questions or concerns, please contact Amy Sorter