Food tech company Benson Hill has agreed to purchase a soybean crushing facility from Indiana-based Rose Acre Farms, as it looks to expand its ingredients infrastructure.
Benson Hill said that the acquisition represents a “significant milestone” in the execution of the firm’s growth plan for plant-based protein ingredients and will further solidify its position in the value chain “to support production of a robust portfolio of proprietary, non-GMO, identity-preserved and sustainable soy protein and oil ingredients for the human food and animal feed markets”.
The plant will eventually process the business’s proprietary soybean varieties, including its Ultra-High Protein soybeans.
“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 at Benson Hill. “This targeted investment can ultimately provide the production capacity to deliver on our integrated business model for commercialisation and scaling of our innovative soybean products, including Ultra-High Protein soybean ingredients.”
Benson Hill’s CEO, Matt Crisp, added: “This milestone reflects continued momentum to advance our vision for a more modern, resilient and sustainable food system, starting with seed that is better from the beginning. Coupling production capacity like this with genomic innovation unlocks enormous value for both farmers and consumers beyond what has been possible through the traditional commodity system.”
The deal is subject to customary closing conditions and is expected to close by the end of this month.
© FoodBev Media Ltd 2021
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