LCN Acquires Anchor Hocking Glassware Manufacturing Facility

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Oct 25, 2023, 08:00 ET

The facility houses three of the ten glass furnaces operational in the U.S.

NEW YORK, Oct. 25, 2023 /PRNewswire/ -- LCN Capital Partners ("LCN") is pleased to announce that it has successfully completed the sale-leaseback acquisition of the primary manufacturing and warehouse facility of Anchor Hocking, LLC, an Ohio-based glassware company ("Anchor Hocking"). Simultaneously, LCN leased the facility back to Anchor Hocking under a 25-year, triple-net lease.

The 1,000,000 square foot industrial facility, located in Lancaster, Ohio, has three 200-ton glass furnaces and accounts for nearly 100% of Anchor Hocking's production and revenue. The facility operates 24 hours a day and is key to the US glass manufacturing industry, since it contains three of the ten glass furnaces that currently operate in the US.

Jared Ciejek, a Partner at LCN Capital Partners noted, "We are pleased to partner with Anchor Hocking, one of the major glass manufacturers in the U.S. The company is a leading national manufacturer of household consumer and commercial glassware. The Lancaster property is a highly specialized facility with a footprint unique to glass manufacturing, and this transaction helps Anchor Hocking unlock capital that can be re-invested into its core business."

Anchor Hocking was established in 1905 and employs approximately 800 people between its Lancaster facilities and Columbus, Ohio headquarters. It is a nationwide leader of household consumer glassware and operates three business units: consumer, foodservice, and commercial. The company markets products globally under the Anchor Hocking®, Anchor®, Anchor Home®, and FireKing® brands. The company's customers range from Fortune 500 to medium and small sized companies.

Added Tom Wall, Partner at LCN Capital Partners, "LCN is a recognized leader in the primary sale-leaseback and build-to-suit markets, where investments and leases are directly originated with corporate users of mission critical real estate. LCN delivers a long-term solution for its tenant-clients by providing a non-bank capital resource, efficient monetization of on-balance sheet real estate, continued operational control of key assets, enhanced financial metrics, and potential tax benefits. And LCN's investing partners benefit from the long-term, real estate secured and inflation protected distributions that it supplies."

About LCN Capital Partners

Founded in 2011 by Edward V. LaPuma and Bryan York Colwell, LCN now manages nearly $7 billion in assets across several funds denominated in US Dollars, Euros, and Pounds Sterling. Headquartered in New York City, LCN also has offices in Amsterdam, Cologne, London, Luxembourg, and Palm Beach.

Since its inception, LCN has completed over 100 investments, acquiring properties in 16 countries across North America and Europe. LCN's investment team has extensive experience dealing with sale-leasebacks and build-to-suits across all industries, credit ratings, property types, and locations. The firm seeks to deliver consistent distributions to investing partners while providing an alternative capital source to corporate owners of real estate.

For more information, please visit www.lcnpartners.com.

For Media:
Craig Allen, Managing Principal
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SOURCE LCN Capital Partners