Reich Brothers buying former Oscar Mayer property
Editors Note APNewsNow.
MADISON, Wis. (AP) _ A company that buys shuttered plants and sells their assets has plans to acquire the former Oscar Mayer headquarters in Madison.
Reich Brothers Holdings expects to close on the deal at the end of October. CEO Adam Reich tells the Wisconsin State Journal the company hopes to bring manufacturing back to the plant which was home to Oscar Mayer since 1919 and once employed 4,000. Production ended in June.
Reich says the industrial vacancy rate in Madison and Wisconsin is relatively low, so space is needed. Terms of the deal were not disclosed.
Reich says some facilities on the 72-acre site may have to be demolished and some areas will need an industrial cleanup.
Information from: Wisconsin State Journal, http://www.madison.com/wsj
By The Associated Press, Copyright 2017