- Divestiture enables the Company to enhance focus on its Ingredients business and meet growing demand for its proprietary soybean product portfolio.
- Management maintains 2022 guidance for the Ingredients Segment and consolidated adjusted EBITDA and free cash flow.
- Proceeds from the sale are expected to supplement the Company’s plans to fully fund the business.
- Management maintains its 2025 outlook for the Ingredients Segment in support of achieving positive EBITDA and positive free cash flow.
Benson Hill, Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), a food tech company unlocking the natural genetic diversity of plants, today announced that it entered into agreements to sell the assets and equity related to its Fresh business in a two-part transaction for an aggregate purchase price of $21 million, approximately $18 million of which was realized in gross cash proceeds in 2022, with the balance of the transaction expected to close in the second quarter of 2023.
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Benson Hill Announces Divestiture of Its Fresh Business (Photo: Business Wire)
Today’s announcement represents the execution of an expected milestone as Benson Hill focuses on global opportunities across its Ingredients Segment. The Company intends to use