Foremost plant
goes up for sale

The Kalihi processing plant of now-defunct Foremost Dairies-Hawaii has been put up for sale, joining other Foremost assets now on the block.

Newfair Investments LLC, which bought the plant in January for $9 million, has not put an asking price on the property, according to CB Richard Ellis, which is handling the listing.

The four-acre site at 2277 Kamehameha Highway is zoned for industrial use.

Newfair Investments, which is controlled by executives of Island Insurance Cos., had been leasing the property to Big Island dairy owner Bahman Sadeghi.

Sadeghi led an investment group that took over Foremost early this year but then abruptly announced plans to shut down the company, blaming the move on poor conditions at the plant and the expected high cost of repairs. Foremost officially closed its doors last week.

Other assets, such as the company's fleet of delivery trucks, processing equipment and the Foremost brand name also have been put up for sale.

Foremost's former rival Meadow Gold, which is now expected to fill much of the processing and delivery void left by Foremost, has entered a bid on those assets.