Green Plains acquired SCI Ingredients Holdings (SCI) and its wholly owned operating subsidiary Fleischmann’s Vinegar Company, the world’s largest manufacturer and marketer of food-grade industrial vinegar for $250 million, subject to certain post-closing adjustments.

Green Plains entered into a definitive stock purchase agreement with the selling shareholders of SCI and is financing the transaction with $135 million of debt with the balance paid from cash on hand.

The company said a group of lenders led by Maranon Capital provided a $130 million term loan and a $15 million revolving line of credit for this business unit.

“This strategic acquisition of Fleischmann’s Vinegar Company brings a new adjacent business that adds a consistent, growing earnings stream and expands our focus on the food and feed ingredients industry,” said Todd Becker, president and chief executive officer of Green Plains. “Our long term strategy is centered around growing our company to take advantage of the rising global demand for energy and food products. The Fleischmann’s Vinegar portfolio of products is well positioned beyond food ingredients, ranging from antimicrobials, animal feeds, herbicides and disinfectants to name a few.”

Omaha, NE-based Fleischmann’s Vinegar is an all-natural specialty ingredients company serving a range of markets and end-use applications, including: food and beverage ingredients, antimicrobials, bio-herbicides and cleaning products across the food, beverage, agricultural, industrial and wholesale markets.