Benson Hill Options Divestiture of Clean Organization for $21M

By Kathryn Hardison

Benson Hill Inc. explained Tuesday it has agreed to provide its assets and fairness related to its New business to IMG Enterprises for $21 million.

The food stuff tech corporation explained it closed on the 1st section of the transaction in December, which included the sale of its Vero Beach front, Fla.-based mostly facility, actual estate and packhouse for $18 million. The equilibrium of the transaction is anticipated to shut in the next quarter of this yr.

The enterprise designs to use the proceeds to help fully fund the enterprise, inclusive of personal debt repayments, and execute its earlier introduced strategic initiatives.

Benson Hill taken care of its total-12 months 2022 outlook for component segment profits among $370 million to $390 million. The business also preserved its 2025 outlook for component phase revenue in excessive of $450 million.

Publish to Kathryn Hardison at kathryn.hardison@wsj.com

Information Viber