Horizon Beverage buys Norton Distribution Center for $21M, plans expansion
Horizon Beverage Co. has purchased the recently-vacated General Motors distribution center in Norton and adjoining land for just over $21 million.
Horizon -- a family-owned distributor of spirits, wine and beer currently based in Avon -- plans to expand the 404,000 square-foot facility by about 40%, says Neil R. Markson of the law firm Bernkopf Goodman, which represented Horizon on the purchase and proposed expansion and assisted in permitting the project.
Work on the Norton building, which sits on nearly 56 acres, is expected to begin early next month. The renovated facility will be roughly double the size of its current Avon location, which was sold in conjunction with the purchase of the Norton facility. Horizon plans to move all 381 current employees to Norton and create an additional 35 jobs. The company estimates the relocation will result in roughly $500,000 of annual spending with local businesses.
Last month, the town lost a major employer when food-services company Sysco moved its operations after more than 30 years in Norton.
"This expansion project not only is good for Horizon, but it is a real boost to the economy of Norton," says Michael Epstein, Vice President of Operations and General Counsel.
The Horizon relocation deal included more than $2.5 million in state and local tax incentives, negotiated with the assistance of Medway-based Business Development Strategies. Through the commonwealth's Economic Development Incentive Program, Horizon was able to secure tax benefits in the form of a state investment tax credit, tax increment financing and a personal property tax exemption.
These tax incentives, approved by the state in March, made the project "financially viable," Epstein says.
Horizon customers include liquor stores, restaurants, lounges, hotels and other establishments including Fenway Park and Gillette Stadium.