| 2016-10-03 16:05:14|
GPRE 16:05 10/03 10/03/16
Green Plains acquires Fleischmann's Vinegar Company for $250M
Green Plains announced that it has acquired SCI Ingredients Holdings and its wholly owned operating subsidiary Fleischmann's Vinegar Company, the world's largest manufacturer and marketer of food-grade industrial vinegar for $250M, subject to certain post-closing adjustments. Green Plains entered into a definitive stock purchase agreement with the selling shareholders of SCI and is financing the transaction with $135M of debt with the balance paid from cash on hand. A group of lenders led by Maranon Capital provided a $130M term loan and a $15M revolving line of credit for this business unit.