LCN Capital Partners (LCN) has completed the sale-leaseback acquisition of the primary manufacturing and warehouse facility of Anchor Hocking, an Ohio-based glassware company.

LCN is a private equity real estate firm specialising in sale-leaseback transactions across North America and Europe.

The firm leased the facility, based in Lancaster, Ohio, back to Anchor Hocking under a 25-year, triple-net lease.

The 1,000,000 ft² industrial facility has three 200 ton glass furnaces and accounts for nearly 100% of Anchor Hocking's production and revenue.

The facility operates 24 hours a day and is key to the US glass manufacturing industry, since it contains three of the ten glass furnaces that currently operate in the US.

Jared Ciejek, a Partner at LCN Capital Partners, said: "We are pleased to partner with Anchor Hocking, one of the major glass manufacturers in the US. The company is a leading national manufacturer of household consumer and commercial glassware.

“The Lancaster property is a highly specialised facility with a footprint unique to glass manufacturing, and this transaction helps Anchor Hocking unlock capital that can be re-invested into its core business."

Anchor Hocking was established in 1905 and employs approximately 800 people between its Lancaster facilities and Columbus, Ohio headquarters.

It is a producer of household consumer glassware and operates three business units: consumer, foodservice, and commercial.