US-based industrial asset disposition services provider Hilco Industrial is planning to sell the acquired assets of Bellisio Foods located in Austin, Minnesota, on a turnkey basis.

Hilco noted that the acquisition is a joint venture (JV) deal that was completed in partnership with Rabin Worldwide and Capital Recovery Group (CRG).

Rabin Worldwide is an industrial auction and real estate investment company, while CRG is a global private equity firm, which creates liquidity for its clients through expertise and innovative solutions.

Hilco Industrial is planning to sell Bellisio’s frozen food processing and packaging facility on a ‘turnkey’ basis. Bellisio is currently continuing its operations at other facilities.

The turnkey offering comprises real estate, buildings, building improvements, and all machinery and equipment.

The sale includes a 120,000ft² facility, which includes a 100,000ft² production / warehouse building on a 12-acre lot, five sauce kitchens with 20 700gal kettles, and a Triangle VFFS frozen product weigher and bagger.

“The sale includes a 120,000ft² facility, which includes a 100,000ft² production / warehouse building on a 12-acre lot.”

Hilco will also sell a 2016 Colborne pot pie line with a double tier spiral freezer, Ishida 14 head SS weigher, Prodo Pak VFFS packagers, blenders, heat exchangers, Breddo Liquifiers, pump sets, palletisers, and packaging equipment.

Bellisio is engaged in the production of frozen food products, including single-serve and multi-serve entrées, snacks, side dishes and speciality sauces.

In addition to its own products, the company manufactures private label and co-pack retail products. It currently markets more than 400 products spanning across a wide variety of categories.

In February, Bellisio announced plans to close its frozen food manufacturing plant in Austin, Minnesota, in April.