Through VMD’s Private Equity network, VMD sourced and spearheaded the acquisition of the Iconic 826K sq ft NECCO candy manufacturing facility located at 135 American Legion Highway in Revere, MA through a joint venture with Atlantic Management. VMD realized it was critical to the assets’ acquisition to bifurcate NECCO’s operating company from NECCO’s real estate, and in doing so was able to acquire the real estate at approximately $60/sq ft, well below replacement cost.
VMD orchestrated and led the highly complex efforts surrounding multiple deal facets that were the byproduct of a Private Equity Co and Real Estate Co trying to work co-harmoniously. It was VMD’s foresight and deal instinct that brought this transaction to fruition through multiple approaches and multiple unconventional strategies.
The acquisition took in excess of 12 months but it was VMD’s hands-on approach and out-of-the-box thinking that lead both companies to the closing table.