Awrey Bakeries - Another Success Story

Awrey Bakeries, once one of the largest privately owned bakeries in the country, was a struggling 100-year old business that was going to be auctioned off in February of 2013.  As one of the few remaining Detroit-area brands still operating, it avoided permanent closure in a down-to-the-wire deal.   

As leading experts with this type of closure, Rabin had been brought in to assist with the sale of the factory and all of the equipment. The bakery was originally scheduled to close in January and lay off all 200 workers as it was prepared to go to auction, but instead the plant continued to operate until late February.

We sent the Rabin set-up team to respectfully work around the employees in the plant to get the enormous facility prepared for the auction.  The team accomplished this in less than three weeks.  While this was going on, we were aggressively marketing the property and equipment to buyers from all over the world including Mexico, Macedonia, Canada, Lebanon, Bulgaria, Central America and a large national interest in the equipment.  The next part of the story takes quite a twist. 

Just one week before the auction, a prospective user approached us and we negotiated a turnkey sale.  The new owner not only reopened the factory the next week but ended up rehiring almost half of the Awrey workers.  It turned out to be a winning situations for all parties as it kept a sorely needed industry in Livonia, Michigan as well as doubled the projected expectations of our client. 

At Rabin we provide turnkey sales and solutions throughout North America.  We actively market and sell companies in their entirety, including equipment, inventory, intellectual property, customers, and often the attached real estate.   Contact us to learn more. 

Rabin is an international company that specializes in creating liquidity for complex manufacturing facilities with idle or marginally productive assets.  Past auctions include names such as Hostess, Braniff Airlines, Montgomery Ward, and the Railway Express Agency.  Rabin is headquartered in San Francisco with a European subsidiary office in Manchester, United Kingdom.