Benzinga | Jan 25, 2021 09:07AM EST

S&W Seed Company Announces Plant Consolidation Resulting In Sale Of Its Five Points, California Facility For $2.25M

LONGMONT, Colo., Jan. 25, 2021 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), a global agricultural technology company, today announced the consolidation of the Company's U.S. alfalfa seed production operations, resulting in the sale of its Five Points, California seed processing facility for $2.25 million. Moving forward, all U.S. seed production operations will be consolidated in the Company's two mechanized facilities in Nampa, Idaho and New Deal, Texas. S&W anticipates approximately $1 million in annualized cost synergies from the consolidation, which is expected to improve gross margins in alfalfa seed. The $2.25 million in gross proceeds from the sale will be used to pay-off long-term debt associated with the Five Points facility.