BCLP advises Benson Hill on divestiture of its fresh foods segment

International law firm BCLP advised food tech company Benson Hill, Inc., in connection with the divestiture of its fresh foods segment operated by J&J Produce, Inc., to an affiliate of IMG Citrus, Inc., which produces and distributes produce to retailers and grocery markets across the country.

The deal was structured as a two-part transaction for an aggregate purchase price of $21 million: First, a sale of all of J&J Produce’s real property to Sweet Sixty, LLC, which signed and closed on Dec. 29, 2022; second, a sale of 100% of the equity of J&J Produce to Sweet Sixty, LLC. The equity portion of the transaction was signed on Dec. 29, 2022, with an anticipated closing around June 30, 2023.

More details can be found in client Benson Hill’s press release.

The BCLP Real Estate Transaction Team was led by Michael Heaney and Emma Masse (Real Estate, St. Louis). The Corporate Team was led by Michael Schwartz, Joel Ocampo and Taylor Flynn (Corporate Transactions, St. Louis), with invaluable assistance from numerous others across the firm, including Brendan Johnson (Corporate Transactions, St. Louis); Karen Fries and David Chambers (Finance Transactions, St. Louis); Jennifer Stokes and Steve Evans (Employee Benefits, St. Louis); Anthony George (Employment & Labor, Denver) and Sara O’Keefe (Employment & Labor, Kansas City); Jessica Edwards (Tax, St. Louis); Jennifer D’Alessandro (Corporate Finance, Denver); and Brandon Neuschafer (Environmental, St. Louis).