RiceBran to Aquire Arkansas Milling Facility
Transaction is expected to be approximately $7 to $8 million
RiceBran Technologies has exercised its option to acquire the assets and operations of Golden Ridge Rice Mills’ milling facility in Wynne, AR.
Food Business News reports total consideration of the transaction is expected to be approximately $7 million to $8 million, with newly issued shares of RBT accounting for slightly more than half of the transaction and the assumption of debt for the remainder.
Brent Rystrom, chief operating officer and chief financial officer, in July said the potential acquisition of Golden Ridge’s rice milling operation would give RiceBran a permanent physical presence to locate additional product and production capabilities.