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Coffee hasn’t stunted the growth of Royal Cup Inc., which is expanding again with the purchase of a building north of Birmingham.
The coffee and tea maker bought the 153,000-square-foot former Smurfit-Stone plant at 3200 Pinson Valley Parkway, just behind its plant at 160 Cleage Drive, from RockTenn CP LLC for an undisclosed price, according to Graham & Co. LLC.
I’m told by one source close to the deal that the price was about $2.2 million, but haven’t been able to confirm that yet through public deed transaction records.
Royal Cup Vice President of Finance Lamar Bagby declined to comment about the deal or the company’s plans, saying more information would be released in a couple of weeks.
But Graham & Co.’s Ogden Deaton, who represented the seller, said Royal Cup plans to expand into the facility.
Brad Moffatt of EGS Commercial Real Estate represented Royal Cup in sale negotiations.
The Smurfit-Stone building, valued at more than $3 million for tax purposes by the Jefferson County Tax Assessor’s Office, has been empty about a year, Deaton said.
RockTenn decided to close the plant as it moved to consolidate its Birmingham assets in 2011, and the building was only occupied briefly since then by HomeLand Vinyl Products Inc. while it repaired its tornado-damaged building nearby, he said.
[/fusion_builder_column][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][ Read article at bizjournals.com]
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