The former Faribault Foods plant on 15th Street NW in Faribault, Minnesota, is about to be repurposed into a business hub, and Jennie-O Turkey Store, which has operations in Faribault, said it intends to lease space in the building.
The plant, which closed about four years ago, is nearly 100 years old and offers more than 250,000 square feed of space, reported southernminn.com, and is now under new ownership. The Faribault Industrial Corporation, community group REVocity and other private investors purchased the building, which is now known as The Cannery. The property sold for $4 million.
Faribault Foods CFO Mike Weber told the news outlet that it had been looking for a buyer, but it wasn’t until recently that “the right buyer” was found.
Businesses can now rent space in The Cannery for light manufacturing, distribution and storage.
Jennie-O Turkey Store Faribault Plant Manager confirmed that the company is finalizing an agreement to rent space in the building.
Also planning to rent space is the company that sold the building. Weber said Faribault Foods would benefit from The Cannery’s rail access.
Faribault Foods, according to its website, was founded in 1895 and today offers a wide array of premium quality products carrying the S&W, SunVista, Luck’s, Butter Kernel Vegetables, Mrs. Grimes and Kuner’s of Colorado. The company combined with Arizona Canning Company in 2014 under their parent company, La Costeña USA.
Jennie-O Turkey Store, a subsidiary of Hormel Foods, announced in 2015 that it was expanding its Faribault plant through a project that would add 17,521 feet of space and between 20 and 25 employees.
