After several lackluster months of activity this past spring, the pace of food & beverage manufacturing facility projects has rebounded solidly throughout the summer, with data from industrial and commercial market intelligence firm SalesLeads showing that this past month was the best of the year, by far.
SalesLeads, which tracks investment project activity for facilities across numerous verticals, including food & beverage, said that it tracked 86 such food & bev. facility project announcements in August, covering plans for new facilities or upgrades to existing ones. That's the most since posting the same figure in November 2020. July's figure was up from 72 projects in July, 70 in June and a considerable improvement from 56 and 61 in May and April, respectively. The year started with 60 projects in January and 70 in both February and March.
SalesLeads tracked an average of 72.7 projects per month during 2020.
SalesLeads' August recap was broken down as follows:
- 67 projects were for processing facilities (51 in July, 53 in June)
- 24 were for distribution and industrial warehouse (28 in July, 23 in June)
- 22 were new construction projects (26 in July, 28 in June)
- 26 were expansion projects (18 in July, 24 in June)
- 44 projects entailed renovations and equipment upgrades (28 in July, 26 in June)
- 5 projects were for a plant closure (0 in July, 1 in June)
- North Carolina and Ohio led all US states with seven projects apiece. New York had six, followed by Texas and Wisconsin with five each; Florida and Missouri each had four; California and Illinois each had three; and Indiana had two.
During August, SalesLeads identified four new food & beverage facility construction projects with an estimated value of at least $100 million — down one from July. The largest tracked food & beverage August project announcement was from Lamb Weston, which plans to invest $415 million for the xpansion, renovation and equipment upgrades on their processing faiclity in American Falls, ID. Completion is slated for Summer 2023.
The other largest food & beverage facility construction projects SalesLeads identified in August included:
- Tyson Foods, which plans to spend $300 million to build a 325,000-square-foot processing facility in Danville, VA. Completion is set for Spring 2023.
- Fish farm Aquabounty Technologies, which plans to spend $200 million to build a 479,000-square-foot processing facility in Pioneer, OH. Construction is expected to start in late 2021.
- Sugar processing firm Michigan Sugar Company, which plans to spend $65 million to expand their processing facility in Monitor Township, MI. Construction is spected to start this Fall, with completion slated for Spring 2023.
- Northwest Ordinance Distilling, which plans to spend $49 million on the expansion, renovation and equipment upgrades on their factory in New Albany, IN.
- General Mills, which plans to spend $28 million for the renovation and equipment upgrades on their factory in Sharonville, OH. Completion is set for early 2022.
- Specialty food ingredients maker Wixon, which plans to spend $15 million on the renovation and equpment upgrades on a recently-acquired 100,000-square-foot factory in St. Francis, WI.
- Meat supplier Monogram Foods Solutions, which plans to spend $14 million for the renovation and equipment upgrades on a recently-acquired factory in Denison, IA.
- Pet food maker Crumps' Naturals Canada, which plans to spend $13 million to build a processing and distribution facility in Nashville, NC.
- Produce company JC Watson Packing Company, which is planning a renovation and equipment upgrades on a recently-leased 68,000-square-foot warehouse and distribution facility in Elk Grove, IL.