The sale of the former Oscar Mayer plant in Madison will likely close this month, but the future of the site remains unclear.
Jonathan Reich, co-CEO of New York-based Reich Brothers, tells 27 News the company's purchase of the property will likely be complete in the next week or so.
Reich Brothers specializes in acquiring and developing industrial properties, according to its website. Jonathan Reich said plans are not firm on how the property might be developed.
City of Madison Economic Development Director, Mike Mikolajewski, says the city wants to see any redevelopment of the site to include jobs to help replace those lost when Kraft Heinz closed the Oscar Mayer plant. Mikolajewski adds that Reich Brothers has seemed open to that desire in initial conversations.
The Oscar Mayer plant, which at one time employed 1,250 workers, closed in June 2017. Since then, city leaders have discussed a variety of options for the facility.
At Tuesday's Madison Common Council meeting, members of the newly-created Oscar Mayer Strategic Assessment Committee were chosen. Mikolajewski says the committee will work with stakeholders, including Reich Brothers, on the future of the site at the corner of Packers and Commercial avenues.