DMN Sells Plano Plant to Golf Cart Manufacturer Denago for $43M

Where freshly printed newspapers once made their way to carriers and delivery trucks, electric golf carts will now roll out of this long-standing plant. DallasNews Corporation, owner of The Dallas Morning News, has closed on the sale of its Plano printing facility for $43.5 million, part of an ongoing effort to streamline operations, CultureMap reports.

The buyer, Denago EV, manufactures low-speed vehicles and advanced golf carts. It recently opened a new Texas factory where the first fully assembled Denago EV Golf Cart in the U.S. drove off the production line. The Plano site will serve as Denago EV’s Southern U.S. production and manufacturing hub.

Denago EV’s new Texas factory brings production closer to home, speeds up distribution, and shortens delivery times. By assembling its products in the U.S., the company can operate more efficiently, enforce stricter quality control, and possibly avoid impending tariff penalties.

Denago has been expanding its Denago Powersports division in Irving that builds e-bikes, dirt bikes, and ATVs. “We are developing a full line of utility vehicles and sport side-by-side vehicles to supplement our existing youth and adult ATVs and off-road dirt bikes. We even plan to produce large-displacement motorcycles,” according to a post on Denago’s website.

DallasNews Corp. originally announced the sale on Dec. 16, 2024, as part of its plan to consolidate printing into a smaller, leased facility in Carrollton. The company intends to use a portion of the proceeds to fund pension liabilities, eliminating what it considers a form of debt.

The Plano facility, located at 3900 W. Plano Pkwy., was built in 1984 on a nearly 29-acre site at Coit Road. Zoned as light industrial, the property hit the market in September 2024 with a valuation of $12.6 million for the land and $6.5 million for the building. Downsizing to Carrollton is expected to save $5 million annually but will cut 85 jobs.

The 619,655-square-foot building is unique for its designated rail spur access to the Kansas City Southern railway. The track literally runs through the warehouse.

As of Q3 2024, The Dallas Morning News had 63,671 print subscribers, down from 69,694 in 2023.

“We are very pleased with the financial outcome from the sale of our Plano facility,” DallasNews Corp. CEO Grant Noise said in a statement. “This is an important milestone in our Return to Growth Plan, and fully funding our pension plan provides certainty regarding retirement benefits for more than 1,300 current and former employees.”