By Kathryn Hardison
Benson Hill Inc. stated Tuesday it has agreed to promote its property and fairness associated to its Recent enterprise to IMG Enterprises for $21 million.
The meals tech firm stated it closed on the primary a part of the transaction in December, which included the sale of its Vero Seashore, Fla.-based facility, actual property and packhouse for $18 million. The stability of the transaction is anticipated to shut within the second quarter of this 12 months.
The corporate plans to make use of the proceeds to assist absolutely fund the enterprise, inclusive of debt repayments, and execute its beforehand introduced strategic initiatives.
Benson Hill maintained its full-year 2022 outlook for ingredient section income between $370 million to $390 million. The corporate additionally maintained its 2025 outlook for ingredient section income in extra of $450 million.
Write to Kathryn Hardison at [email protected]