Food technology company Benson Hill announced Monday that it will expand its ingredient infrastructure through the purchase of a soybean crushing plant in Seymour, IN from Rose Acre Farms.
“The acquisition of the Rose Acre Farms soybean crushing facility represents an important next step in the execution of our playbook for growth,” Bruce Bennett, president, Ingredients for Benson Hill, said in a release. “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.”
Following the transaction, the plant will eventually process the firm’s proprietary soybean varieties, its Ultra-High Protein soybeans. Benson Hill is currently working to double its contracted soybean acres.
“Rose Acre Farms remains committed to the local farming community, a value Benson Hill shares. We are excited to have found the right buyer for our soy processing assets in Benson Hill, a company with which we have a great history of partnership,” said Tony Wesner, Rose Acre Farms’ CEO, in a statement. “We look forward to continuing our partnership with Benson Hill and believe they will continue to be a valuable member of our community.”
Benson Hill anticipates the sale will close by the end of this month.