$14 million.
That’s how much Turkey Hill Dairy of Lancaster, Pennsylvania, received for its ice cream production plant in Searcy in what appears to be a sale-leaseback transaction.
The new owner is an affiliate of New York’s W.P. Carey Inc., a publicly traded real estate investment trust: You Scream (PA) LLC.
That White County ice cream factory is the former Yarnell’s plant, and that’s the name that is undoubtedly more familiar to Whispers readers.
Turkey Hill bought the 100,000-SF facility at 205 S. Spring St. just last June from Yarnell Ice Cream LLC, which has been a subsidiary of Schulze & Burch Biscuit Co. of Chicago since 2011.
At the time, Turkey Hill, which described itself as “a leading manufacturer and distributor of branded ice cream and refrigerated drinks,” touted the expansion of its “production capacity, capabilities and geographic reach.”
No announcement was made when the deed reflecting the change of ownership was recorded with the White County Circuit Clerk on Wednesday.
Plant manager Alex Bell did not respond to a call for comment on Thursday, nor could any representative of Turkey Hill or You Scream be reached.
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