Pipeline Foods purchases Organic Ventures' ancient grains business
30 Oct 2019 --- Pipeline Foods LLC – which describes itself as the first US-based supply chain solutions company focused exclusively on organic, non-GMO and regenerative food – has reached an agreement to acquire the ancient grains and specialty products business of Organic Ventures. The deal complements Pipeline Foods’ product portfolio across the Americas by adding ancient grains to the company’s offerings and further bolsters its focus on organic corn products. As part of the acquisition, Organic Ventures' President, Rick Halverson, will join Pipeline Foods as an equity shareholder.
Headquartered in Minneapolis, Minnesota, Pipeline Foods will extend all services, including grain merchandising and the company's Farm Profit and Ag Impact programs, to its expanded grower and customer base.
“We laid out an ambitious goal when we entered the market in 2017 to dramatically increase the amount of organic and non-GMO grain grown in the US,” says Eric Jackson, Founder and Board Chairman of Pipeline Foods. “This is a critical next step in our company’s growth. It will add new capabilities and products to the existing Pipeline Foods portfolio – a benefit to both our farmers and food company customers.”
Pipeline Foods will originate all grain and ingredients for the Organic Ventures lines of business, as well as its subsidiary, Great River Organic Milling, which will continue to own all Organic Ventures retail-marketed and wheat flour products.
In February, SunOpta Inc sold its specialty and organic soy and corn business to Pipeline Foods for US$66.5 million, subject to post-closing adjustments.
At the time, Eric Jackson, Chief Executive of Pipeline Foods, noted: “We are excited by this incredible opportunity to grow our business and expand the accessibility of organic and specialty grains in the US. With this move, we are merging the newest team in the sustainable agriculture supply chain business with the most tenured and respected team in the business, and creating something even better.”
Edited by Gaynor Selby
