Kerry Group has purchased Fleischmann's Vinegar from Green Plains for $350 million. An all-natural producer of specialty ingredients, Fleischmann's Vinegar supports Kerry's taste and clean label strategies across a number of end-use markets. Fleischmann's is headquartered in California with seven manufacturing facilities across the U.S.
The executive director of Green Plains' financial advisor XMS Capital says the sale of Fleischmann's marks a major milestone in the company's portfolio optimization plan. Once the transaction is complete, it will give Green Plains the ability to pay off its term loan B and invest in high-protein distillers grains process technology. The transaction is expected to close during the fourth quarter of 2018.
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