Amy’s Kitchen in Pocatello gets large investment
POCATELLO, Idaho (KIFI) - W. P. Carey Inc., a real estate investment trust group, have announced they have completed an approximately $144 million investment in three mission-critical food production facilities located in Oregon, California and in Pocatello, Idaho.
“We are thrilled to close this transaction with Amy’s Kitchen and support their long-term growth by enabling them to unlock the capital tied up in their real estate and reinvest the proceeds into their business," said W. P. Carey Executive Director Zachary Pasanen. "Our experience, structuring expertise and ability to close quickly were critical in getting this deal done before year end. We look forward to building our partnership with Amy’s Kitchen and working with them in the future.”
“W. P. Carey was an excellent partner to work with," said Amy's Kitchen Chief People Officer Mike Resch. "Right away, they understood our business and were able to execute the transaction in a timeframe that met our needs.”
Founded in 1987, Amy’s Kitchen has maintained a dominant position as the top provider of organic vegetarian meal solutions. The company has experienced substantial growth during its more than 30-year history, benefiting from longstanding relationships with premier supermarkets and wholesalers in the U.S.
Amy’s Kitchen currently offers over 180 different products, all of which are organic and vegetarian, and many of which are also gluten-free. Within the broader frozen meal category, Amy’s Kitchen ranks as the 6th largest provider nationally.
The three facilities represent the entirety of Amy’s Kitchen’s owned food manufacturing footprint, as well as serving as R&D sites for new product and equipment creation, quality control testing and commodity storage. Combined, the facilities produced over 21 million cases of food in 2020.
