A source close to the deal tells Globest.com that this deal has been in the works for approximately four months. They also note that the transaction is consistent with WP Carey's strategy of investing in assets that are critical to ongoing operations of credit worthy companies.
Headquartered in Denver, Mountain City Meat Co. is a beef processor, supplying a broad range of custom cuts of steak and ground beef to restaurant, foodservice and retail customers. O'Charley's, a Nashville-based multi-concept restaurant company, has historically produced its own beef and other food products for use by its restaurants but decided to exit the production business and sell its plant, according to a release.
"Mountain City had been searching for the appropriate expansion facility for the past few years when we were presented with the O'Charley's opportunity," says Mountain City president Pat Boyer. "The sale-leaseback transactions with WP Carey facilitated our acquisition of O'Charley's operations and a geographic expansion that will further fuel our company's growth."
Gino Sabatini, executive director at WP Carey, notes, "we are excited to be a participant in Mountain City Meat's growth," adding that "they are a premier custom meat processor and we look forward to a long term relationship. Their management team and business focus are emblematic of the type of companies with which we seek to invest."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
