12/5/17 – The Beaver Dam Common Council Monday night approved the sale of seven acres of land in the city business park to Pinnacle Foods. Pinnacle is purchasing Ryder Systems cold storage facility on Green Valley Road for $37-million dollars, with closing on the sale slated for the middle of this month. The land purchase agreement with Pinnacle provides land south of the existing 327-thousand -square-foot building for future expansion. The seven acres is being sold to Pinnacle for one dollar, contingent on $5-million dollars in improvements being made in or around the current facility over five years. If the company fails to reach that benchmark, they would have to pay the city $150-thousand dollars for the land. The terms of the deal indicate that Pinnacle will be retaining Ryder’s current workforce of 150 employees and, as the company expands, could add up to another 100 jobs. Pinnacle is expected to invest $32-to-$43-million dollars on upgrades to the Ryder facility. Ryder Systems does contract work for food processors and cold storage. Pinnacle’s major product is Birds Eye vegetables which would reportedly be packaged at the Beaver Dam facility.
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