Rabin Worldwide to Auction former Campbell's Soup facility in Sacramento starting February 25th
Rabin Worldwide to conduct a 3-day public equipment auction at Campbell's Soup 1,600,000 square foot facility on 129 acres.
Rabin Worldwide, a San Francisco based international company and the global leader for the disposition of food manufacturing facilities, will conduct a 3-day public auction for the remaining assets of former Campbell’s Soup plant in Sacramento. Auction begins February 25th and will end on February 27th.
Campbell Soup Co. has closed the historic plant on Franklin Boulevard. Built in 1947, it was the oldest facility of the renowned company in the United States and employed 700 full-time workers. Rabin Worldwide and partners purchased the highly-improved property and equipment assets from Campbell earlier this year. The land and buildings now have a new name – Capital Commerce Center - and Rabin Worldwide and its partners, Hackman Capital Group and Capital Recovery Group, plan to redevelop the site into a multi-purpose modernized retail, industrial and office center and help to bring jobs back to the area.
The auction will be held onsite at the Campbell’s facility and will include four floors of equipment and the canning, bottling & packaging equipment for some of Campbell’s most known and beloved brands such as Campbell’s Chicken Noodle and Tomato soups, Prego Spaghetti Sauces, and V-8 Juices.
"This is a huge facility and the amount of equipment onsite is truly astonishing. On top of that, we are talking about Campbell’s equipment - which is top of line, new and well maintained. The interest level in this auction has been extremely high." said Richard Reese, President of Rabin Worldwide. "Some of Campbell’s most famous brands were manufactured in this plant since the 1940’s and that is creating a lot of buzz and attracting a lot of attention to the sales, and we hope it will strengthen bidding," Reese added.
Rabin Worldwide is an international company that creates liquidity through innovative solutions. Rabin specializes in complex manufacturing facilities with idle or marginally productive assets. Rabin employ a host of solutions including auctions, liquidations, asset-based lending, turn-key operations, environmentally challenged real estate acquisition and more. Similar auctions conducted by Rabin include Hostess, Braniff Airlines, Montgomery Ward, and the Railway Express Agency. Complete information about Rabin Worldwide can be found online at www.rabin.com.