Rabin Worldwide, a San Francisco based company and the global leader for the disposition of food manufacturing facilities, will conduct a three-day public auction of the remaining assets at the former Campbell's Soup plant in Sacramento, CA. The auction begins February 25th and will end February 27th.
The Campbell's Soup Co. has closed the historic plant on Franklin Boulevard. Built in 1947, it was the oldest facility in the United States belonging to the renowned company and employed 700 full-time workers. Rabin Worldwide and its partners purchased the highly-improved property and equipment assets from Campbell's earlier this year. The 129 acres of land and buildings now have a new name – Capital Commerce Center. Rabin Worldwide along with partners, Hackman Capital Group and Capital Recovery Group, plan to redevelop the site into a modernized multi-purpose retail, industrial, and office center in an effort to help to bring jobs back to the area.
The auction will be held onsite at the huge 4-story Campbell's facility and will include the canning, bottling & packaging machinery 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. In addition, 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 employs 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.