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Georgia Packing Operation Fetches $6.1 Mln. In Bank Auction

Ernst Undesser
From a Press Release April 28, 2017

Georgia Packing Operation Fetches $6.1 Mln. In Bank Auction

The packing house, land and equipment formerly used in the produce operations for Plantation Sweets sold this week for $6.1 million in two bank-ordered auctions. The assets were a major part of a large Georia growing and packing operation that produced Vidalia onions and sweet potatoes.

Over 100 people in attendance over the two days.

“We had great crowds with strong interest from local and national operators, as well as institutional investors that led to the success of these auctions.” Ken Nofziger with Murray Wise Associates (MWA), one of the auction companies involved in the sale.

During the land and packing house auction on Wednesday, many local farmers bid on individual tracts before an investment fund and several large operators began bidding back and forth on the whole property, according to an MWA press release.

Shuman Produce Inc. ended up with the high bid of $5.5 million on about 620 acres of farmland, the 95,000-square-foot packing shed and the packing shed equipment.

“There has been a scarcity of large tracts of land available in this area recently and when the opportunity arose for individuals in this community to add to their operation they took it,” noted Ben Crosby, of Crosby & Associates, another company involved in the sale.

Ernst Undesser
From a Press Release April 28, 2017