Cash-strapped Golden Books has decided to sell its printing facility located in Sturtevant, Wis. The plant was built by First Industrial Development Service Group, which remains the owner of the facility and has a long-term lease with Golden. Under terms of a sale, Golden would transfer the lease to the new owner, while also selling its printing equipment.
The Sturtevant plant was opened in February after Golden decided to remain in Wisconsin following the receipt of $5.4 million in grants and loans from the state and county. Although the 440,000-sq.-ft. facility was built to Golden's specifications, its capacity has been underutilized. According to Golden chief operating officer Rich Collins, the publisher would like to find a buyer "committed to the printing business, which could bring additional work to the facility and reduce unit costs." Golden expects to continue to use the plant after the sale.
