"I want to thank Ken Simril, President and CEO of Fleischmann's Vinegar, and his team for their successful stewardship of the company," said Adam Cohn, a founder and Co-CEO of Stone Canyon Industries. "We enjoyed partnering with Ken and the company, and are pleased they have found a great new home at Green Plains."
Mr. Simril said the company looks forward to transitioning to new ownership and continuing to pursue its various growth initiatives. "We experienced a great partnership with Stone Canyon and are proud of everything our teams have accomplished together," said Mr. Simril. "We have positioned Fleischmann's to benefit from current food industry trends such as health and wellness which will support our long-term profitability as we move to the Green Plains platform."
Fleischmann's Vinegar is an all-natural specialty ingredients company serving a range of markets and end-use applications. Headquartered in Cerritos, Calif., the company has approximately 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.
BMO Capital Markets acted as financial advisor and Goodwin Procter LLP acted as legal advisor to Stone Canyon Industries and the selling shareholders of Fleischmann's Vinegar. XMS Capital Partners acted as financial advisor and Husch Blackwell LLP acted as legal advisor to Green Plains Inc.
About Stone Canyon Industries
Stone Canyon Industries, LLC (www.stonecanyonllc.com) is a global industrial holding company based in Santa Monica, California with subsidiaries involved in consumer & retail, food & ingredients, industrial, technology & business services and transportation. The company focuses on acquiring market-leading companies with strong management teams in highly defensible industries around the world.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/stone-canyon-announces-sale-of-sci-ingredients-300338187.html
SOURCE Stone Canyon Industries, LLC