Breaking News: LCN Capital Partners Completes Strategic Acquisition of Anchor Hocking’s Key Manufacturing Facility
In a significant move, LCN Capital Partners (LCN) has successfully finalized the sale-leaseback acquisition of Anchor Hocking, LLC’s primary manufacturing and warehouse facility, located in Lancaster, Ohio. This 1,000,000 square foot industrial powerhouse houses three 200-tonne glass furnaces, serving as the backbone of nearly 100 percent of Anchor Hocking’s production and revenue.
Securing the Future: Long-term Commitment
Under the terms of the agreement, LCN has leased the facility back to Anchor Hocking through a robust 25-year triple-net lease. This strategic alliance not only cements LCN’s position as a key player in the sale-leaseback market but also ensures stability and growth for Anchor Hocking, a leading glass manufacturer in the United States.
Strategic Impact: Empowering Glass Manufacturing
Jared Ciejek, Partner at LCN Capital Partners, expressed enthusiasm about the partnership, emphasizing Anchor Hocking’s vital role in the national glass manufacturing landscape. He stated, “This transaction empowers Anchor Hocking to unlock valuable capital, enabling strategic reinvestment in their core business. We are proud to collaborate with a company of such significance in the U.S. glass industry.”
A Legacy of Excellence
Founded in 1905, Anchor Hocking has established itself as a prominent player in the household consumer glassware sector. With approximately 800 employees spread across its Lancaster facilities and Columbus, Ohio headquarters, the company operates globally, catering to a diverse clientele, ranging from Fortune 500 corporations to medium and small-sized businesses.
LCN’s Vision: Driving Growth and Stability
Tom Wall, Partner at LCN Capital Partners, highlighted LCN’s role as a leader in the sale-leaseback and build-to-suit markets. The company’s expertise lies in delivering long-term solutions, ensuring tenant-clients have access to non-bank capital resources, streamlined monetization of on-balance sheet real estate, operational control of critical assets, improved financial metrics, and potential tax benefits. This strategic collaboration promises a future marked by growth, stability, and unparalleled opportunities in the glass manufacturing sector.
Source: LCN Capital Partners with additional information added by Apazone