Based in Plymouth and Bluffton, Indiana. Pretzels, Inc. is a leading contract manufacturer of baked pretzel and extruded corn snacks for companies all around the United States. Pretzels, Inc. utilizes state of the art bakery technology ensuring consistent and high quality taste, texture, freshness and timeliness.
After establishing a facility in Plymouth, IN in 2017, Pretzels, Inc. experienced continued increases in demand for its products. Following its acquisition by Peak Rock Capital, a leading private equity company based in Austin, TX, Pretzels was considering significant capital investment to increase capacity. Considerations included expanding its facility in Plymouth or locating a new facility within the western portion of the US. A new or expanded facility would require $70M in new real estate and equipment and 150+ new employees.
Pretzels, Inc. hired McGuire Sponsel to negotiate and procure economic incentives on their behalf in support of the company’s considered expansion/relocation. McGuire Sponsel assisted with a financial analysis for multiple sites including Indiana and Kansas. McGuire Sponsel negotiated and worked with the IEDC, Marshall County Economic Development, and the City of Plymouth, Indiana to procure tax credits and incentives to assist with expansion in Plymouth.
In addition to state and local incentives, Pretzels, Inc. will see an EBITDA impact of reduced operational expenses by $1M annually over the next 15 years.
EDGE Tax Credits
Economic Development Rider Discounts from Local Utility
|EDGE Tax Credits||$1,300,000|
|Economic Development Rider Discounts from Local Utility||$445,000|