Stone Canyon completes sale of SCI Ingredients for $250m

Stone Canyon Industries, a US-based industrial holding company, has completed the sale of SCI Ingredients and its 100% owned subsidiary Fleischmann's Vinegar to Green Plains for $250m.

Fleischmann's Vinegar is a leading producer of food-grade industrial vinegar.

Stone Canyon Industries purchased SCI Ingredients last year. During Stone Canyon's ownership, and under the direction of the Fleischmann's management team, SCI Ingredients experienced growth in revenues and profits.

Stone Canyon Industries founder and co-CEO Adam Cohn said: “I want to thank Ken Simril, president and CEO of Fleischmann's Vinegar, and his team for their successful stewardship of the company.

“We enjoyed partnering with Ken and the company, and are pleased they have found a great new home at Green Plains.”

Headquartered in Cerritos, California, Fleischmann's Vinegar is an all-natural specialty ingredients firm catering to a wide range of markets. It has 112 employees working at seven manufacturing facilities.

Simril said: “We experienced a great partnership with Stone Canyon and are proud of everything our teams have accomplished together.

“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.”

BMO Capital Markets acted as financial advisor and Goodwin Procter served as a legal advisor to Stone Canyon Industries and the selling shareholders of Fleischmann's Vinegar. XMS Capital Partners acted as financial advisor and Husch Blackwell as legal advisor to Green Plains.