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Mission-based The Redwood Group Sells Specialty Crop Division for $34M

The Redwood Group LLC sold its Montana-based specialty crop food ingredients division for $34 million. Photo credit: Shutterstock (B Brown).

Posted August 12, 2024

Mission-based The Redwood Group, LLC has sold its Montana-based specialty crop food ingredients division for $34 million.

The Redwood Group’s Specialty Crop Food Ingredient Division, based in Montanna, supplies grains, pulses and specialty crops to over 35 countries for clients in the human and pet markets. The division has been sold to Above Food Ingredients Inc.

Terms of the deal call for Above Food to pay $8.1 million in cash and 5.6 million in newly issued common shares of Above Food, according to the release. The division generated unaudited revenue of $164 million last year and an average annual adjusted EBITDA of $5.3 million for the previous three fiscal years.

“This is a bittersweet moment in our history, yet represents a tremendous opportunity for personal and professional growth for our teams in Mission, Kansas and Chester, Montana to join an organization principally focused on specialty crops and value-add opportunities in the region as well as globally,” The Redwood Group founder and president, Mike Kincaid said in the release.