Hanover Completes Sale of Fulfillment Center

Weehawken, NJ—Multititle cataloger Hanover Direct on May 4 completed the sale of its Kindig Lane fulfillment center in Hanover, PA, to snacks manufacturer Utz Quality Foods. Hanover plans to retain its telemarketing, information systems, and accounting functions at its Poplar Street facility in Hanover. The sale is part of Hanover’s previously announced plan to sell off most of its assets.

The cataloger will use the net proceeds, estimated at $4.4 million, to reduce debt under the company’s credit facility with the Congress Financial Corp. Hanover Direct will continue to use part of the facility as a tenant under a lease agreement with Utz through summer 2002. During that time, Hanover will move its fulfillment to its center in Roanoke, VA.