MAG Capital Partners Acquires Frozen-Pie Factory
Texas-based MAG Capital Partners LLC has acquired a frozen-pie manufacturing facility in Rochester, N.Y., pursuant to a 20-year leaseback. Located at 155 Balta Drive, the 42,700-square-foot facility is occupied by SatisPie LLC, which makes and distributes private-label frozen pies to national and international retailers. The sale proceeds will provide additional capital for SatisPie’s continued expansion.
SatisPie founder Michael Pinkowski purchased the facility from General Mills in 2007, after the latter closed its pie operation. He then formed SatisPie on the existing footprint. Since then, the plant has gone through a major upgrade, a 35 percent expansion and a multimillion-dollar investment in state-of-the-art manufacturing equipment.