A report released April 10 shows that planned North American food and beverage industry projects tracked in February decreased by 11 percent for a second-straight, while at least five new projects have an estimated value of at least $100 million.
In its monthly report tracking planned US food and beverage projects, industrial and commercial market intelligence firm SalesLeads said it noted 70 such projects during March, down 79 from February and 89 in January.
SalesLeads’ March recap is broken down as follows:
- 43 projects were for processing facilities (60 in February)
- 26 were for distribution centers or warehouses (22 in Feb.)
- 18 were new construction projects (30 in Feb.)
- 17 were expansion projects (17 in Feb.)
- 27 projects entailed renovations and equipment upgrades (34 in Feb.)
- 4 were plant closures (6 in Feb.)
- Michigan, Florida and New York each had five tracked food & bev. projects in March, followed by Kentucky and Texas with three, and then Indiana, Connecticut, South Carolina, Georgia and Illinois with three apiece.
iStockSalesLeads identified five new food and beverage facility construction projects in March with an estimated value of at least $100 million, up one from February. The largest of these four is owned by Metro Inc., which is investing $420 million for the construction of a 600,000-square-foot distribution center in Terrebonne, Quebec. Completion is slated for 2023.
The other 10 largest food and beverage projects tracked by SalesLeads in March include:
- Coca Cola plans to invest $300 million for the construction of a 1 million-square-foot processing and distribution center in Brandon, FL, which has recently received approval.
- Seafood company Tru Shrimp plans to invest $300 million for the construction of a processing facility in Madison, SD.
- Bakery company McKee Foods plans to invest $225 million for an expansion and equipment upgrades of their processing facility in Collegedale, TN, which has recently received approval. Construction is to start in summer 2020.
- Nutritional and food additive products manufacturer Kerry Group plans to invest $125 million for the expansion and equipment upgrades of their processing facility in Rome, GA, Completion is set for early 2021.
- Specialty food manufacturer T Marzetti Company plans to invest $90 million for a 185,000-square-foot expansion and equipment upgrades at their processing facility in Munfordville, KY, which is currently seeking approval. Completion is set for summer 2021.
- Meat processing company Tyson Foods plans to invest $65 million for the construction of a processing facility in Springdale, AR.
- Energy Drink maker Red Bull North America is expanding and planning for the construction of a 700,000-square-foot distribution center on a recently acquired 67-acre site in Glendale, AZ. Completion is set for 2021.
- Beverage bottling and distribution company Nor-Cal Beverage plans to construct a 422,000-square-foot warehouse and distribution facility in West Sacramento, CA. Completion is set for fall 2021.
- Specialty Food products maker Avena Foods plans to invest $20 million to construct a processing facility in Rowatt, Saskatchewan. Construction is expected to start in spring 2020, with completion set for 2021.