Poultry Products Northeast (PPNE), Hooksett, N.H., was acquired in a management-led buyout from its longtime owner Julian Stogniew. The $30 million investment will finance the construction of a modern distribution and processing facility.
Under Stogniew’s leadership, PPNE grew from a local poultry processing company to an independent food distributor.
“This new group of owners share my commitment to our employees, and I look forward to watching them lead PPNE to the next step in its evolution,” says Stogniew.
“We are grateful to Julian and the dedicated team at PPNE who have worked to build the company to what it is today,” says Bill Conrad, president and CEO of PPNE. “We wouldn’t be where we are today without their efforts and commitment. With his blessing, we are excited to look forward to the future."
The new ownership group’s financial investment will facilitate the construction of the new 105,000-square-foot building, which will be developed by Brennan Investment Group, Rosemont, Ill.
The new Greenfield facility, designed and constructed by CMC Design-Build, Quincy, Mass., will feature 40,000 square feet of warehouse space (the bulk of which will be refrigerated or frozen), an 18,000-square-foot refrigerated dock, 8,000 square feet of USDA processing space, a 3,000-square-foot test kitchen, a presentation room and corporate offices. The multi-temperature storage areas are designed for pallet racking with top of product at 32 feet.
This new building will allow PPNE to be more efficient, augment product lines and achieve higher fill rates and service levels. Construction is scheduled to be completed in early 2020.