Take a look at this photo and guess where we were.
Did you guess Dunbar Street in Keene?! We were excited to be the guests of Lisa Lorimer on a tour of the Dunbar Street food production facility that houses MammaSezz. You probably have heard that our Co-op purchased the building in early November. (If you missed that announcement, see the article about the purchase here.) MammaSezz is the sole tenant of the building and uses the food production equipment, coolers, and warehouse space to produce their plant-based meals that are shipped all over the country.
So, how was our Board involved in this purchase process (besides wearing cool disguises)?
Several months ago, our General Manager learned that the building was available, and Michael brought the idea of purchasing the building to the Board. There was interest in the idea of owning this amazing resource, but there was a lot of work to do before we could make such a significant decision. Michael worked with a number of advisors during the due diligence process to assess the value that the building would bring to us, the risks and opportunities that a purchase would present, the short term and long term costs of owning the building, and ideas on its potential to further our mission. In several discussions over the course of the summer, the Board became increasingly aligned around the idea of taking this step and approved the purchase at our meeting in October.
