SOLD: Operating Manufacturer and Bottler of Proprietary Spring Water in Upstate NY
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The Company, Nirvana, Inc. and its affiliates filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court in the Northern District of New York in June 2015. The updated and approved sales-process timeline is as follows: Bid Deadline of November 6, 2015 and Auction Date of November 12, 2015.
We are seeking offers for a Going-Concern Sale as well as Individual Offers for Real Estate, M & E, I/P, Inventory and A/R
Established in 1996, the Nirvana, Inc. and Affiliates are privately owned and operated, manufacturer and bottler of spring water captured from four licensed springs on over 1,600 acres of real property located in the foothills of the Adirondack Mountains at Forestport, New York. The four licensed springs produce approximately 605,000 gallons of water each day. The spring water comes to the surface by its own natural force at 42 degrees F, year round and is collected and bottled on site. There is a 5th spring that has been setup and built out but is not yet operating as it has not been licensed. A recent $10 million capital expansion increased capacity to 2 million cases of small PET (8 oz to 1.5 Liter) per month and there is an additional line dedicated to 3-Liter/1-Gallon bottle production with additional monthly capacity of at least 400,000 cases.
Debtors’ sales peaked in 2012 at $28.5 million, declining to a projected $20 million in 2015. At full capacity the facility is projected to generate an EBITDA of $10 million. The Debtors currently employ 50 to 100 local residents depending on production, plus 5 sales representatives in the downstate NY/NJ area. All employees of the Company are non-union.
Established/Turnkey Operation: 19+ year business
• 24 miles to Walmart distribution center in MarAmended Bid Procedurescy, NY
• 26 miles North of Utica, NY
• 264 miles North West of New York, NY
• 286 miles West of Boston MA
• Production and raw material facilities – excess of 100,000 sq. ft. – fully climate controlled, 24/7 operational capability
• Warehousing facilities – 140,000 sq. ft.
• Office, workshop and others – 20,000 sq. ft.
• Three high speed fully integrated small bottle PET lines
• One high speed fully integrated 3-Liter/1-Gallon PET line with SIG BloMax4C, capable of blowing 5,400 BPH
• Two Husky injection machines – Cavity Cap and Preform
• Three high pressure compressors (550, 580 , 750 HP)
• Nirvana (Trademark)
• Positively Pure (Trademark)
• Naturally Green (Trademark)
• Not All Water is Created Equal (Trademark)