Developments funded by the investment include upgrading existing production lines, revamping facilities for the factory’s 600 workers, and initiatives to improve energy efficiency and to help reduce carbon emissions.
PHT Growth Fund LP is a new investment vehicle established to make strategic acquisitions and investments in temperature-controlled food supply chains, with a mission to support the movement of fresh produce from field to table.
Relocalize aims to cut greenhouse gas emissions and costs by deploying microfactories at grocery distribution centers to produce food and beverages hyper-locally.
The investment will support a research and development innovation studio, as well as manufacturing efficiencies and advancements in food safety at Mars’ Hackettstown, N.J. manufacturing facility.
The second phase of Rich’s plant expansion is supported by National New Markets Fund, LLC, which will invest $17.5 million of its New Markets Tax Credit allocation.
