Mauser Packaging Solutions subsidiary BWAY Corporation’s aerosol can manufacturing facility in Cincinnati, US has been sold for $16.65 million (€15.25 million).
The fully occupied facility, which was owned by Leasco Management, was bought by a private buyer from Southern California. The multi-million-dollar deal was brokered by NAI Hiffman, with the property marketed by Newmark Knight Frank, according to RE Journals.
BWAY Corporation has over nine years left on its triple-net lease of the facility. The asset has been occupied by BWAY and its predecessors since 1965 and is the second-largest aerosol manufacturing facility in the US.
The company is a North American supplier of general line rigid containers, with more than 4,000 employees across 25 plants throughout the US and Canada.
Parent company Mauser Packaging Solutions services the full packaging lifecycle, from design, manufacture and delivery to recollection, refurbishment and recycling.