Tuesday, October 4th 2016
An Omaha-based ethanol and processing company is getting into the vinegar industry. Green Plains Inc. announced Monday it has acquired California-based Fleischmann's Vinegar Co. for $250 million. Fleischmann's is considered the world's largest manufacturer and marketer of food-grade industrial vinegar. Fleischmann's has seven manufacturing facilities around the country and Canada with a headquarters office in California. The company focuses on food production with straight vinegar products, condiments, dressings and cooking wines, as well as various industrial applications, including cleaning products. Fleischmann's also has moved into areas such as antimicrobial production for the meat-processing industry. Fleischmann's also produces a bio-herbicide and a liquid additive to cattle feed. The purchase comes just a week after Green Plains closed the deal on buying three ethanol plants through the bankruptcy of Spain-based Abengoa. Green Plains bought ethanol plants in Illinois, Indian and Nebraska for $237 million. While Green Plains now has 17 ethanol plants producing 1.5 billion of ethanol and 1.4 million tons of distilled grains, Becker noted the company also is increasingly getting into various food product such as exporting food-grade corn oil. The sale was financed with $135 million in debt and balance paid in cash.