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AIC Ventures Acquires Rich Products Facility in Connecticut

Texas Business reports: AUSTIN—AIC Ventures   acquired a 140,000-square-foot production facility located in New Britain, Connecticut.

The building was completed in 2008 and is currently leased on a long-term basis to Rich Products Corporation, a leading supplier and solutions provider to the foodservice, in-store bakery and retail marketplaces.

The company is the world leader in non-dairy toppings, icings and other emulsions. Other key product categories include cakes and desserts; pizza, bakery products; breads and rolls; shrimp and seafood; appetizers and snacks; BBQ; meatballs and pasta; and gluten-free and all-natural items.

"We are very excited to have closed on our 130th transaction today, bringing our total acquisition activity for the first four months of this year to 45 million dollars,” said AIC managing director of acquisitions Luis F. Medina in a prepared statement. “Rich Products is a recognized world leader in their industry, and this asset brings additional diversification and credit strength to our industrial portfolio. This transaction allowed us to demonstrate key strengths such as our ability to overcome challenging obstacles and close within a very tight timeline. The transaction closed 34 days following the parties' execution of the sale and purchase agreement.”

Maurice Nieman and Ian Schroeder of Colliers International's Irvine, California office represented the seller in this transaction.  

AIC Ventures is a provider of alternative capital to companies via real estate sale leaseback transactions. With more than $1 billion in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies that need to strengthen their balance sheets, fund growth initiatives including acquisitions, fund succession planning and/or support other strategic initiatives. The company has closed 130 transactions in 29 states. For more information, visit www.aicventures.com.

Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 512 offices in 61 countries.