Streit's moving its matzah factory out of Manhattan




The descendants of the founder of Streit's are moving their matzah factory out of Manhattan's Lower East Side, possibly to New Jersey's Meadowlands,

the

New York Times

reported.

The 11 family shareholders are deliberating over a new location, the article said.


Alan M. Adler, great-grandson of founder Aron Streit, told the


Times


that the family had resisted offers to sell the factory for years. They decided to sell now, Adler said, because “the reality is that operating a modern factory in four old buildings has finally caught up with us.” The factory lacks a loading dock, he noted.


Streit's says it is the last major family-owned matzah producer in the U.S., the


Times


article said. Manischewitz, a family business until 1990, is now owned by a unit of Bain Capital.


Streit's also has a factory in Moonachie, N.J., that produces other Passover products. The family told the 50 workers at the Lower East Side factory that they would find jobs at the New Jersey site if they were willing to commute, the article said.

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Adler gave up a legal career 15 years ago to become Streit's vice president of operations, the


Times


article said. Another great-grandson of the founder, Aron Yagoda, and a fifth-generation member, Aaron Gross, also are executives in the company. (Source:


New York Times


, Jan. 6, 2015.)

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