US food technology company Benson Hill has announced its acquisition of ZFS Creston, a food-grade white flake and soy flour manufacturer, for approximately $102 million.
The deal enables Benson to convert its proprietary soybeans into soy protein ingredients, with applications including plant-based meat, meat extension, bakery, cereal, snacks and fermentation.
The acquisition will also allow Benson to deliver a portfolio of non-GMO ingredients that are less processed, sustainable, traceable and domestically sourced.
Creston is well equipped to produce soy meal and oil, as well as “food-grade” soy white flake, flour and grits, which can be used as ingredients or as a raw material for developing concentrates, isolates and textured protein products.
“The acquisition of ZFS Creston, combined with our proprietary ultra-high protein soybean varieties, positions Benson Hill to deliver a portfolio of improved ingredients as an innovative unlock to bottlenecks in the rapidly growing but capacity-constrained plant-based movement,” said Matt Crisp, CEO of Benson Hill.
He added: “This acquisition advances our integrated business model as a more efficient route to market with a smaller footprint that better aligns with consumer preferences, enabling us to harness the genetic potential of plants and help scale the growth of plant-based markets”.
“The ZFS Creston team has done a terrific job optimising the facility and working with customers, suppliers and the Creston, Iowa community to create a successful, value-added food ingredient business,” said Eric Meeuwsen, ZFS Creston co-president and COO.
He continued: “We are grateful for the hard work of everyone at ZFS Creston. We are confident Benson Hill will provide excellent opportunities for employees, local farmers and the community through the commercialisation of their innovative, higher nutrition, soy-based food ingredients.”
© FoodBev Media Ltd 2024