Seneca Foods Acquires 49% Stake in CraftAg, LLC
Seneca Foods Corp. - Class B (SENEB)
US:NASDAQ Investor Relations:
senecafoods.com/investors
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Source: GlobeNewswire
MARION, N.Y., Feb. 06, 2020 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (“Seneca”) (NASDAQ: SENEA, SENEB) and CraftAg Enterprises, Inc. (“CraftAg”) announced today the formation of a joint-venture, CraftAg, LLC, a vertically integrated seed-to-sale hemp company. CraftAg was one of the early participants in Washington State’s hemp pilot program, working with a small network of growers in the Yakima Valley to produce, process, and sell Aromahemp™ – a safe, flavorful, and premium quality input for smokable hemp products and herbal vapor blends. CraftAg’s proprietary techniques for processing superior dried and cured whole hemp flower distinguish it from the many processors focusing on cannabinoid isolates. The newly formed CraftAg, LLC will process hemp in Sunnyside, WA, at a facility that was previously owned by Seneca and used as a pear and apple cannery. The repurposed 270k square foot facility has already begun processing the 2019 crop of Aromahemp™, and is ideally located in th
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