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US: Formation of seed-to-sale hemp company

Seneca Foods Corporation and CraftAg Enterprises has formed a joint-venture, CraftAg, 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," the team with the company explains. "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 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 the heart of the Yakima Valley, a region well-suited for growing specialty crops such as hemp."

"Seneca is investing approximately $10 million and contributing the Sunnyside facility to acquire a 49% stake in CraftAg," they further explain. "CraftAg plans to further build-out its vertically integrated production network, including the construction of a large-scale, technologically state-of-the-art, automated hemp processing plant at the Sunnyside, WA facility, while modernizing CraftAg’s existing seed and clone propagation facilities located near Royal City, WA."

“Seneca is enthused to be partnering with CraftAg in this rapidly growing hemp agribusiness”, stated Kraig Kayser, Seneca Foods’ President and CEO. “The opportunity to repurpose a closed cannery to create a new and exciting business in Sunnyside is very compelling.”

Rory Rawlings, CraftAg CEO stated: “CraftAg is excited to announce this joint venture with Seneca Foods to accelerate the growth of our vertically integrated supply chain for premium Aromahemp flower and related products. The new partnership combines CraftAg’s hemp expertise with Seneca’s multi-generational legacy in food production and distribution at scale. The result is an unbeatable platform for development and production of new hemp-based consumer products.”

For more information:
Seneca Food Corporation
(315) 926-8100
senecafoods.com  

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