Rich Products Corp. Announces Manufacturing Facility Closures

Categories: California Business NewsCalifornia ManufacturingCalifornia News

Rich Products announces closures of manufacturing facilities across the U.S.

News Summary

Rich Products Corp. has announced plans to close multiple manufacturing facilities across the U.S., affecting nearly 600 employees. This includes closures in California, South Carolina, Minnesota, and Tennessee. Despite these changes, the company remains committed to its headquarters in Buffalo, where it employs around 1,000 individuals. Rich Products is also set to invest over $200 million to expand manufacturing capacity, anticipating growth and job creation in Texas. The company aims to stabilize its workforce and continues to experience financial success with rising revenues.

Buffalo Buzz: Rich Products Corp. Announces Manufacturing Closures

Buffalo, NY – It’s been a bittersweet week for Rich Products Corp. as the company has revealed plans to close yet another manufacturing facility across the U.S. This latest announcement marks the fourth closure in a little less than a year, with the recent round of shutdowns impacting close to 600 hardworking individuals spread over five different states. However, there is a silver lining to this story!

What’s Happening?

In the latest round of restructuring, Rich Products has decided to close several plants. Here’s the rundown:

The Santa Fe Springs, California plant will be shutting its doors on March 31, which means 139 employees will be looking for new opportunities.
In Fountain Inn, South Carolina, the plant will close on February 28, affecting 184 jobs.
The Fridley, Minnesota facility is set to close sometime in late July, impacting 170 employees.
Last but not least, the Christie Cookie plant in Nashville, Tennessee, already closed its doors back in June, which sadly meant the loss of 30 positions.

Along with these closures, the company has sold its meatball business located in Vineland, New Jersey, to Premium Brands, a buyer who intends to keep all the current employees in place. It is important to note that none of these changes will affect Rich Products operations in Buffalo!

A Commitment to Buffalo

Rich Products remains the powerhouse of Western New York, employing around 1,000 individuals in Buffalo alone, making it the largest privately owned company in the region. Even with these closures, the overall global employment numbers for Rich Products stand strong at over 13,000 around the world.

More positive news for the company comes from its impressive financial growth, as revenue increased from $5.3 billion in 2022 to $5.8 billion in 2023. The company is projecting a target of reaching $6 billion in revenue by the end of this fiscal year.

Future Plans and Investments

Rich Products is taking proactive measures to increase operational efficiency and integrate top-of-the-line technologies. In fact, the company has committed over $200 million in investments for 2024 to expand its manufacturing capacity. This includes a significant $117 million expansion at the Brownsville, Texas facility, which is anticipated to create over 130 new jobs in that area.

Despite the closures, Rich Products reassures there will be no loss of employment within Buffalo and is dedicated to strengthening its workforce wherever possible. Employees affected by the recent plant closures will receive compensation packages and assistance in transitioning to new job opportunities.

Looking Ahead

With more than 20 production facilities scattered across the United States, Rich Products is not slowing down! The company continues to pursue growth both at home and internationally while maintaining its roots in Buffalo. In these changing times, the company is adapting and making strategic decisions to ensure long-term success as a family-owned business.

So, while changes may be on the horizon, rest assured—Rich Products is here to stay in Buffalo and is focused on nurturing its employees and community. Exciting times lie ahead, and it looks like Rich Products will continue being a key player in the region’s economic landscape!