RiceBran Technologies operates as a specialty ingredient company. The company focuses on the development, production, and marketing of products derived from traditional and ancient small grains.
The company creates and produces products utilizing proprietary processes to deliver improved nutrition, ease of use, and extended shelf-life, while addressing consumer demand for all natural, non-GMO and organic products. The company owns and operates a grain mill and processing facility in East Grand...
RiceBran Technologies operates as a specialty ingredient company. The company focuses on the development, production, and marketing of products derived from traditional and ancient small grains.
The company creates and produces products utilizing proprietary processes to deliver improved nutrition, ease of use, and extended shelf-life, while addressing consumer demand for all natural, non-GMO and organic products. The company owns and operates a grain mill and processing facility in East Grand Forks, Minnesota operated by MGI Grain, Incorporated (MGI).
Customers
The company uses almost entirely internal sales staff to market its portfolio of products to customers domestically and internationally. In 2023, three customers accounted for 48.4% of its revenues from continuing operations. The company continues to focus efforts on diversification of its customer base to mitigate the concentration of customers.
Dispositions
On June 23, 2023, the company completed the sale of its assets related to its stabilized rice bran business (SRB Business). The sale agreement contains customary representations, warranties, and covenants. The SRB Business was a specialty ingredient company that produced nutritional and functional ingredients derived from raw rice bran for the nutraceutical, healthy food, companion animal and equine feed categories to convert raw rice bran into stabilized rice bran (SRB) and high-value SRB derivative products.
On January 25, 2024, the company sold its rice mill facility in Wynne, Arkansas operated by Golden Ridge Rice Mills, Inc. (Golden Ridge). Golden Ridge specialized in producing #1 and #2 Grade U.S. premium long and medium white rice milled to United States Department of Agriculture (USDA) standards. Golden Ridge also produced brown rice, brewers rice, and brokens.
Government Regulations
The formulation, manufacturing, packaging, labeling, advertising, distribution and sale of the company’s products are subject to regulation by one or more federal agencies, primarily the Food & Drug Administration (FDA), the Federal Trade Commission (FTC), and the U.S. Department of Agriculture (USDA). The company’s activities are also regulated by various governmental agencies for the states and localities in which its products are manufactured and/or sold, as well as by governmental agencies in certain countries outside the United States. Among other matters, regulation by the FDA and FTC is concerned with product safety and claims made with respect to a product’s ability to provide health-related benefits. Specifically, the FDA, under the Federal Food, Drug and Cosmetic Act (FDCA), regulates the formulation, manufacturing, packaging, labeling, distribution and sale of food and food ingredients, while the FTC regulates their advertising. The company is committed to the FSMA compliance and are SQF certified at its facility.
History
RiceBran Technologies was founded in 2000. The company was incorporated in 2000.