Green Plains Acquires Fleischmann’s Vinegar Company
Strategic acquisition broadens company’s position in food and feed ingredients
“This strategic acquisition of Fleischmann’s Vinegar Company brings a new adjacent business that adds a consistent, growing earnings stream and expands our focus on the food and feed ingredients industry,” said Todd Becker, president and chief executive officer of Green Plains. “Our long term strategy is centered around growing our company to take advantage of the rising global demand for energy and food products. The Fleischmann’s Vinegar portfolio of products is well positioned beyond food ingredients, ranging from antimicrobials, animal feeds, herbicides and disinfectants to name a few.”
“As we approach scale as one of the largest ethanol producers in the world, we have the engine of a significant commodity-processing entity that can generate substantial cash flow, allowing us to enhance the food and feed ingredients side of our business,” added Becker. “The Fleischmann’s Vinegar acquisition will lead to further supply chain opportunities within Green Plains, as its largest production cost is food-grade ethanol. We will use our commodity and risk management expertise to expand our opportunities into consumer and industrial-based ethanol products.”
Fleischmann’s Vinegar is an all-natural specialty ingredients company serving a range of markets and end-use applications, including: food and beverage ingredients, antimicrobials, bio-herbicides and cleaning products across the food, beverage, agricultural, industrial and wholesale markets. Fleischmann’s Vinegar offers a broad portfolio of products that serve to embed the company as a critical component of its customers’ end products. Fleischmann’s Vinegar is the world’s largest manufacturer and marketer of food-grade industrial vinegar. Headquartered in Cerritos, California, the company has 112 employees and operates seven manufacturing facilities located in Alabama, California, Illinois, Maryland, Missouri, New York and Washington. The company also utilizes four distribution warehouses located in Oregon, California, Texas and Quebec, Canada.