by: Wes Mills, Inside INdiana Business
Posted: / Updated:
SEYMOUR, Ind. (Inside INdiana Business) — Rose Acre Farms has sold a soybean crushing facility to food technology and ingredient company Benson Hill Inc. of St. Louis. While terms of the deal were not disclosed, Benson Hill says the investment represents a “significant milestone” in the company’s growth plan, which includes the development of plant-based protein products.
The food tech company says the acquisition will support production of a portfolio of proprietary, non-GMO, and sustainable soy protein and oil ingredients for the human food and animal feed markets.
“The acquisition of the Rose Acre Farms soybean crushing facility represents an important next step in the execution of our playbook for growth,” said Bruce Bennett, president, Ingredients division at Benson Hill. “This targeted investment can ultimately provide the production capacity to deliver on our integrated business model for commercialization and scaling of our innovative soybean products, including Ultra-High Protein soybean ingredients.”
Bennett says the facility will ultimately have the capacity to process the company’s proprietary soybean varieties, including the first commercial plantings of its Ultra-High Protein soybeans, which will be harvested this fall. Benson Hill says it will continue to serve existing customers.
The companies expect to close the deal later this month.