In 1998, Source Capital, Ltd. assisted the owners of Draper Canning Company to sell its operating business and related assets. The transaction left the Company with its manufacturing plant and related land holdings, which consisted of nearly 300 acres located in Milton, Delaware. A subsequent transaction merged those assets into Cannery Village, which was capitalized to demolish the old manufacturing plant, complete any required environmental remediation and obtain zoning approvals for a new planned community within Milton, Delaware.

With these activities completed, Cannery Village then sought a local development partner to spin-off that portion of the land that would be dedicated to residential development. The remaining land is now being developed into a new office park and commercial center.

Source Capital, Ltd. provided advisory support with the divestiture of Draper Canning Company’s operating assets, the structuring of Cannery Village and this recent transaction.