Iconic B&M Baked Bean Factory to Close After 150 Years in Portland, Maine

First, it was the stack pipe of the B&M Beans plant. And now, there will be no more bean factory in Portland.

According to the Press Herald, the Roux Institue of Northeastern University bought the iconic factory and will build a huge private-public area with classrooms, research space, offices, housing and eventually shops, a restaurant, and maybe a hotel and underground parking. The plan also includes a trail and public park.

The full concept wouldn't be complete for at least 10 years, the newspaper stated, as this is a long-term plan and they want to be a part of the Portland economy for centuries to come.

B&M Bean Factory will be closed by the end of the year, the Press Herald stated.

It was not an easy decision to close the B&M Beans plant in Portland. I had a chance to get a tour of the inside, and it was like being in the belly of the Titanic. Old, traditional, and cool. But it was just too old. Built for a different era.

Boston Baked Beans will still be made but in the midwest. Speaking with someone who works at B&M, they said to buy up all the beans you can because they just won't be the same.

The Roux Institute is new and backed with a $100 million donation from David Roux, a technology entrepreneur and Lewiston native, and his wife, Barbara.

It will be almost the complete opposite of baking beans in giant cast iron pots - it will be a high-tech school with graduate education, corporate training, research and business development, according to the Press Herald.

They want to train locally with employees to work in cutting-edge medical science, artificial intelligence and digital engineering.

Slightly different from making great beans.