Carolina Foods, LLC, a manufacturer of sweet baked goods, announced plans to build a new facility in Pineville, North Carolina, just a few miles from the building in Charlotte’s South End neighborhood that has been the company’s home since its founding in 1934.
The company, which makes honey buns, doughnuts, pies and a host of other sweet treats under the Duchess brand and other labels, is joining with Beacon Partners to develop a 423,000-square-foot facility at 12031 Carolina Logistics Drive.
The move is part of a growth plan that began in March of 2021 with an investment from Charlotte-based private equity firm Falfurrias Capital Partners, which specializes in growing middle-market businesses.
“In addition to being twice the size of our current space, our new facility will be totally climate controlled, providing a pleasant work environment that also allows us to maintain our high quality standards,” said Carolina Foods CEO Dan Myers. “We’re very happy to maintain our home in the Charlotte region, and the new Pineville location will offer improved accessibility for both our broad employee base as well as shipments of inbound supplies and outbound product.”
Upon completion, Carolina Foods anticipates no changes to its total headcount, which fluctuates between 300 and 400 people. Site work is expected to begin in August 2022 and production is anticipated to start by the end of 2023, though the company plans to operate both facilities concurrently through sometime in 2024.
This transaction is a build-to-suit lease with a 15-year term and multiple extension options. Other terms were not disclosed.
Beacon Partners will serve as the developer on the project, with The Whiting-Turner Contracting Company serving as general contractor and Stellar out of Jacksonville, Fla., handling engineering and design duties. MPV Properties and Cushman & Wakefield collaborated on the deal.
