MAG Capital Partners has acquired a 158,484-square-foot specialty food-processing facility in the Cleveland metropolitan area in a sale-leaseback transaction with Produce Packaging, Inc.
Situated in a suburb 20 minutes northeast of Cleveland on 9.44 acres, 27853 Chardon Road, Willoughby Hills, Ohio, serves as PPI’s headquarters since 2019. PPI’s $15 million investment in building infrastructure and systems supports multi-temperature/multi-humidity zones to maintain the facility’s highest food quality and safety certifications and standards. Originally developed as a Sam’s Club, the building features 27’ clear height, 12 dock doors and 4 drive-ins.
Phil DiGennaro and Joe DiGennaro with STREAM Capital Partners represented PPI in the transaction.
Established in 1994, PPI is a multi-certified fresh produce processor servicing national food brands, as well as public and private national food distributors, specialty markets and food service manufacturers. Tracking back four generations, the family-owned business has evolved from its origins as a tomato repacker for its sister company, The Sanson Company.
