Sankaty Advisors: Harvest Time Bread expanding in NC

Mount Airy / NC. (gov / div) US-Governor Beverly Perdue announced that Harvest Time Bread of North Carolina LLC, a U.S. American baker for the grocery and food service industries, will expand its operations in Surry County. The company plans to invest 4,5 million USD and create 38 jobs during the next three years in Mount Airy. The announcement was made possible in part by a 100’000 USD performance-based grant from the One North Carolina Fund.

«North Carolina continues to attract companies looking for the perfect location to invest and create jobs», Perdue said. «Our skilled workforce and top-rated business climate provide an ideal foundation for companies looking to expand. Creating jobs continues to be my top priority».

Harvest Time Bread of North Carolina is a wholly owned subsidiary of Harvest Time Bread Company, headquartered in Woodbridge, New Jersey. The company, which produces a wide variety of breads, rolls, whole grain and organic products, operates a bakery in New Jersey and one in Mount Airy, which employs 86 people.

Harvest Time Bread, which leases a facility in Mount Airy, plans to purchase that plant and expand operations and products to better serve the Southeastern U.S. market. While wages will vary by job function, the 38 new positions will pay an annual average wage of 25’790 USD, not including benefits.

«Before deciding on purchase of the site, Harvest Time explored opportunities in five states. We were looking for a qualified labor source, proximity to truck transportation routes, affordable utilities and a business-friendly environment», said Rich Paolino, CEO of Harvest Time. «Through the assistance and consistent attention of state and local officials, staying here and expanding in Mount Airy became an easy decision».

The One NC Fund provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.

About: Harvest Time Bread Company is the maker of high-quality bakery products for grocers and food service companies across the United States. The company specializes in artisan, European, and all-natural breads; distinctive sandwich rolls; and whole-grain and organic offerings. The company maintains facilities in Woodbridge, New Jersey, and Mount Airy, North Carolina (USA). Backed by a heritage of more than 25 years of distinguished baking, Harvest Time Bread Company was established in its present form in 2005 under the ownership of Sankaty Advisors LLC. Sankaty Advisors, the fixed income affiliate of Bain Capital LLC, currently manages 20,3 billion USD of assets in North America and Europe.