Rich Products (Rich’s), a global family-owned food company, and National New Markets Fund, LLC (NNMF) announced the second phase of Rich’s Brownsville, Texas, manufacturing facility expansion is officially underway. NNMF, an affiliate of Los Angeles-based SDS Capital Group, will invest $17.5 million of its New Markets Tax Credit allocation to support the 150,000-square-foot expansion, which will increase Rich’s production capacity for its growing branded appetizer business.
Rich’s largest capital campaign to date, the $117-million expansion is comprised of two phases. Phase two, slated to be completed in July 2025, will add capacity for greater production capabilities and storage. The first phase, which began in 2023, included the development of a new frozen warehouse expected to open this summer. Upon completion, the full expansion project is expected to create more than 130 full-time jobs, 70% of which are slated to be filled by members of Brownsville’s marginalized communities.
“We’ve seen a huge influx in customer demand within our growing seafood and appetizer business, so adding capacity is key for continued growth,” said Kevin Spratt, president, Rich Products’ U.S./Canada region. “As a proud member of the Brownsville community for over 60 years, we’re fully committed to strengthening our local impact with the right combination of associates, products and infrastructure. We’re grateful to NNMF for being a key supporting player in this project and are excited about the opportunities this will create for our business, the local community and the valued customers we serve every day.”
The NNMF investment capital uses funding generated from the New Markets Tax Credit (NMTC) program administered by the U.S. Treasury Department. This program provides investment capital for projects benefiting low-income communities, including Rich’s Brownsville facility. In addition to creating job opportunities, Rich’s will offer workforce training to the Brownsville community, including computer literacy courses in partnership with Texas Southmost College. The courses will prepare the local workforce for employment at Rich’s and other regional organizations.
About Rich Products
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $5.8 billion, Rich’s is a global leader with a focus on everything that families make…possible.
