2023-06-26 07:39:05 ET
- RiceBran Technologies ( NASDAQ: RIBT ) has sold its stabilized rice bran (SRB) business for total consideration of ~$3.5 million, consisting of $1.8 million in cash and the assumption of $1.7 million of the company's real estate lease obligations on two operating facilities, to Stabil Nutrition, LLC.
- The asset sale is first step of previously announced strategic review by the board.
- The assets sold include two Company-owned manufacturing facilities in Dillon, Montana and Mermentau, Louisiana, as well as two leased facilities in West Sacramento, California and Lake Charles, Louisiana.
For further details see:
RiceBran Technologies divests SRB Business to Stabil Nutrition, LLC