IMI SalesLeads today announced the October 2022 results for the new report on planned capital project expenditure for the food and beverage industry. The firm tracks North American planned industrial capital project activity; including facility expansions, construction of new facilities and significant equipment modernization projects. Research confirms 71 new projects in October, compared to 80 new projects in September for the food and beverage sector.
The following are selected highlights of new construction news in the food and beverage industry.
Treatment facilities – 47 new projects
Distribution and industrial storage – 29 new projects
Scope/activity of the food and drink project
New construction – 25 new projects
Renovations/equipment upgrades – 19 new projects
Factory closure – 3 new projects
Food and Beverage Project Location (Top 10 States)
Options – according to equipment needs
Air Emission Control Equipment – 43
Control systems and instrumentation – 43
Material handling/storage equipment – 66
During the month of October, our research team identified 4 new construction projects for food and beverage facilities with an estimated value of $100 million or more.
The largest project is owned by Manna Beverages & Ventures, which plans to invest $600 million for the construction of a 1.7 million sf processing, distribution and laboratory complex in MONTGOMERY, AL. They recently got the project approved. Completion is scheduled for 2025.
Top 10 tracked food and beverage projects
Company Name: Plenty Unlimited Inc.
Indoor agriculture company plans to invest $300 million in construction of a cultivation and processing facility in CHESTERFIELD, VA. They recently got the project approved. Construction will take place in several phases, with completion scheduled for late 2024.
Expected Investment: $300,000,000
Reason behind the expansion: Establish a new cultivation and processing facility
Megan Gillespie – VP, Operations
Jeff Shura – Dir. of Engineering
Susan Oliver – Sr. Construction project Mgr.
Company Name: Acme Smoked Fish Corp
Specialty food processing company plans expansion of its processing, warehousing and office facilities in BROOKLYN, NY. They are currently seeking approval for the project. Completion is planned for 2024.
Expected investment: Not disclosed
Reason behind the expansion: Expansion of their processing, storage and office facilities
Matthew Ranieri – VP, Technical Services
Ben Schwartz – Supply Chain Dir.
Company Name: Essentia Protein Solutions
Special ingredient mfr. plans to invest $100 million for the construction of a processing plant in DALTON, GA. They are currently seeking approval for the project.
Expected investment: $100,000,000
Reason behind the expansion: Establish a new treatment facility
Brian Haines – VP, Manufacturing
Dave Palkovic – Process Engineer
Company Name: Coca-Cola Bottling Company United Inc.
The beverage company plans to invest $80 million for a 260,000 sf expansion of its warehouse space at 4521 Chapel Hill Dr. in MACON, GA. They are currently seeking approval for the project.
Expected Investment: $80,000,000
Reason behind the expansion: Establish a new storage facility
Stan Ellington – VP, Supply Chain and Operations
Mike Stovall – Director. Purchase
Susannah Jones – Operations Mgr.
Company Name: Handsome Brook Farms
The egg producer plans to invest $31 million in renovations and equipment upgrades at a processing facility on Technology Way in MORRISTOWN, TN. They recently got the project approved.
Expected investment: $31,000,000
Reason behind the expansion: Modernization of equipment and renovation of a treatment plant
Diego Montesdeoca – VP Operations
Dan Greenway – Operations Mgr.
The brewery plans to invest $20 million in renovations and equipment upgrades at their production facility in WILLIAMSBURG, VA. They are currently seeking approval for the project.
Expected Investment: $20,000,000
Reason behind the expansion: Modernize equipment and renovate their production facilities
Sarah Schilling – Sr. General Mgr.
Elizabeth Reeve – Engineering and Capital Projects Mgr.
Kriti Jain – Supply Chain and Logistics Warehouse Mgr.
Company Name: Pangea Shellfish Company
The seafood company is planning the construction of a 90,000 sf processing and storage facility at 10 Codfish Way in BOSTON, MA. They recently got the project approved. They will move their activities after completion.
Expected investment: Not disclosed
Reason behind the expansion: Establish a new processing and storage facility
Ben Lloyd – Owner and President
Steven Doyle – Operations Mgr.
The meat processor plans to invest $10 million for an 8,000 sf expansion of its cold storage facility in VERNON, TX. Completion is planned for summer 2023.
Expected investment: $10,000,000
Reason behind the expansion: Expansion of their cold room
Michael Blaisdell – Group Division Engineer
Foodbank plans to invest $8 million for renovations and equipment upgrades at a recently acquired 52,000 sf processing and storage facility at 191 Ridgeview Rd. S in MOUNT JOY TOWNSHIP, PA. They will relocate their activities when they are finished in the summer of 2023.
Expected investment: $8,000,000
Reason behind the expansion: Modernization of equipment and renovation of a processing and storage facility
Durrell Nolt – Operations Mgr.
The coffee and brewing company plans to invest $7 million in the construction of a 16,000 sf processing and manufacturing facility in PULLMAN, IL. Construction is expected to begin in the spring of 2023, and it is expected to be completed in early 2024.
Expected investment: $7,000,000
Reason behind the expansion: Establish a new processing and production facility
Since 1959, SalesLeads, based in Jacksonville, FL, has been a leader in providing industry capital project intelligence and investigative services to sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights into companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closures in industrial facilities. An extension to your sales team, the outsourced prospecting services are designed to drive growth with qualified meetings and deals for your internal sales team.
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