RiceBran Technologies (RIBT)

[wow_happens28]

Continental Grain Company Acquires a 16% Equity Interest in RiceBran Technologies

http://ih.advfn.com/p.php?pid=nmona&article=75647412&symbol=RIBT

RiceBran Technologies (NASDAQ: RIBT and RIBTW) (the 'Company' or 'RBT'), a global leader in the production and marketing of value-added products derived from rice bran, announced today that Continental Grain Company, one of the oldest food and agribusiness companies in the world, has entered into an agreement to purchase 2.7 million shares of RiceBran Technologies common stock from the Company for $2.9 million. The total number of shares issued to Continental Grain Company represents 16% of RBT's issued and outstanding common stock on a post transaction basis.

"We are pleased that Continental Grain Company is making a significant investment in our company's future," said Dr. Robert Smith, President and CEO of RBT. "Continental Grain Company is one of the oldest food and agribusiness companies in the world with a long history of pursuing strategic investment opportunities in food and agribusiness."

Established in 1813 as a grain trading firm based in what is now known as Arlon, Belgium, Continental Grain Company grew to become one of the largest privately held companies in the world.

Ari Gendason, Senior Vice President - Corporate Investments at Continental Grain Company and a member of RBT's Board of Directors, added, "The RBT team has made substantial progress in the past year towards its strategic objectives, from focusing on its rice bran business to significantly strengthening its financial condition and lowering operating costs. RBT's stabilized rice bran and proprietary ingredient products provide better-for-you ingredients that consumers are increasingly demanding from food companies and Continental Grain Company has a long history of seeking out expansion opportunities in this space making this a good strategic fit for both companies. We look forward to RBT's continued progress."