RiceBran exercises option to acquire milling facility

RiceBran Technologies on Nov. 5 exercised its option to acquire the assets and operations of Golden Ridge Rice Mills' milling facility in Wynne, Arkansas, U.S. Total consideration of the transaction is expected to be approximately $7 million to $8 million, with newly issued shares of RBT accounting for slightly more than half of the transaction and the assumption of debt for the remainder. "We believe we are paying a mid-single digit multiple of enterprise value to EBITDA based on our current expectations for Golden Ridge's operations," RBT said.