Equipment from the Campbell Soup Toronto plant has been put up for sale by the venture capital group that acquired it.
TCL Asset Group, partnered with Corporate Assets Inc., Rabin Worldwide and Capital Recovery Group, says the equipment will remain on sale until the end of the summer, according to a report in Plant magazine. At that point the equipment will be offered for sale though a multi-day onsite and online public auction. The assets are valued at more than $200 million.
Campbell announced the plant shutdown in January of last year, saying the decision was based on over-production of soup, and that the plant was too outdated to be economically upgraded. The Toronto production has been relocated to plants in the U.S. The 600,000 sq. ft. facility, which produced 20 million plus cases of canned and aseptically filled soups annually, will close its doors next month.
Read the article on page 6 of Plant’s April issue.
Photo: TCL Asset Group