American Italian Pasta Company has agreed to the sell the land, manufacturing plant and certain personal property of its Kenosha, Wisconsin facility to ST Specialty Foods for approximately US$6m in cash.
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The sale, which will be completed by mid-July, does not include the Kenosha plant’s pasta manufacturing equipment or pasta inventory, which will be redeployed to the company’s South Carolina plant.
American Italian now has four plants operating, located in Missouri, South Carolina, Arizona and Verolanuova, Italy, having earlier this month (6 June) posted a 6.9% fall in revenue to $388.7 during the 2005 financial year.
