OMAHA, NEB. โ White River Soy Processing, LLC has acquired the Creston, Iowa-based soy processing plant of Benson Hill, Inc. for $72 million. The facility employs 55 and is equipped to produce soy meal and oil, as well as food grade soy white flake, flour and grits, Benson Hill said.
The Creston plant is the second facility White River has acquired from Benson Hill in the past four months. At the end of October 2023, White River bought Benson Hillโs soybean processing plant in Seymour, Ind., for about $36 million.
โTodayโs acquisition displays White Riverโs commitment to our companyโs mission to supply better nutritional outcomes to our customers, as well as meet the growing need for high-quality soy protein products,โ said Gordon Glade, co-founder of White River. โThe purchase of the Creston facility allows us to expand what we started at the Seymour, Indiana, facility while also expanding our product offerings into the food grade market.โ
Deanie Elsner, chief executive officer of Benson Hill, said the divestiture supports the companyโs strategic plan to reshape its organization and transition to an asset-light business model with an expanded focus on animal feed markets.
โMore importantly, exiting our ownership and operation of soy processing assets strengthens our balance sheet with lower capital and operating expenditures, while allowing us to thoughtfully allocate resources to leverage our core competencies as a technology-enabled, seed innovation company,โ Elsner said. โWe know WRSP leadership well and have confidence that they will operate the facility with the highest industry standards and a customer-centric approach. We sincerely appreciate the hard work of the Creston employees as they increased throughput at the facility to unprecedented levels. We thank them for their contributions to Benson Hill.”
