Milling & Baking News - August 27, 2019 - 10

Business

Metropoulos and affiliates sell
portion of Hostess Brands stake
KANSAS CITY - Hostess Brands Inc. has
completed a public offering of 12 million
shares of Class A stock. Priced at $14 per
share, the stock was owned by C. Dean Metropoulos and entities controlled by him. Mr.
Metropoulos is chairman of Hostess.
Announcing completion of the offering Aug. 15, Hostess said it did not issues

owned 8.1% of outstanding Hostess stock.
The price of $14 equates to a small discount below the closing price of $14.36
Aug. 12, the day the offering was announced. Hostess shares were trading
lower still, at $13.66, as of midday Aug.
14. While still up significantly from the
start of the year, Hostess shares have
dipped more than $1 per share from the
52-week high of $14.86, set in July.
Morgan Stanley & Co. L.L.C. was sole book
manager-running manager for the offering. MBN

shares in connection with the offering and
did not receive any proceeds from the sale
of shares by the selling stockholders.
According to a prospectus filed with
the Securities and Exchange Commission
on Aug. 12, the 12 million shares equate
to 9.2% of all Hostess outstanding shares.
Following the sales, Mr. Metropoulos still

Star of the West puts spotlight on
sustainability across supply chain
made," Ms. Woodke said. "We can assist
in any and all parts of this, along with
supplying sustainability metrics necessary for reporting."
She continued, "Through our staff of
local agronomists, we will work closely

SOSLAND PUBLISHING/SUSAN REIDY

FRANKENMUTH, MICH. - A business dating back to 1870, Star of the West
Milling Co. has a lengthy and rich past.
With the recent addition of a sustainability director, Star of the West is ever more
sharply focused on its future.
"We are celebrating our 150th anniversary, and though we are thankful for those
years, our focus is on the next 150," said
Lisa Woodke, who joined Star of the West
in June as sustainability director. "We
want to do the things that will help us not
only maintain, but flourish in the coming
years. Sustainability and regenerative agriculture are part of that future plan."
As sustainability director Ms. Woodke
will focus on coordinating and enhancing the sustainability efforts between the
grower, Star of the West, food companies
and, ultimately, the consumer.
"There are so many moving parts: the
growers and the practices they use to
raise nutritious crops, the millers and
their need for quality wheat products, the
food companies and their desire to create
a safe and delicious product, and the consumer and their desire to know and understand where and how their food was

Star of the West built a new mill in Willard,
Ohio, the first greenfield facility for the company since 1910.

with our growers to learn what regenerative and sustainable practices they may
already be utilizing and find ways to capture, track and report that information.

Cargill in partnership to open
innovation lab at U. of Illinois
HOPKINS, MINN. - Cargill has announced a new partnership with the
University of Illinois under which the
Minneapolis-based company's digital
labs team of scientists will work alongside university students at a new Cargill
Innovation Lab located at the UrbanaChampaign campus.
As part of the partnership, Innovation Lab
students and staff will work directly with
Cargill business leaders, operations teams
and customers to help move digital ideas -
in weeks, not months - to test mode.
"Cargill's commitment to engaging
10 / August 27, 2019

Milling & Baking News

our students in its innovation process
will add a new dimension to their educational experiences at Illinois," said Robert
J. Jones, Ph.D., chancellor, University of
Illinois at Urbana-Champaign.
The Innovation Lab on the university's
campus is expected to provide Cargill
with a pipeline of talented software engineering and data science students and
graduates ready to modernize agricultural supply chains and food systems
across the globe. The lab is located within
the Research Park at the University of Illinois at Urbana-Champaign, which is a

We also work diligently to find new products or practices that can assist growers
in achieving their goals of sustainability.
We find that each farm is unique, and
each grower has a different view of sustainability. But every farm has the opportunity to reach a level of sustainability
recognized by standardized metrics like
those used in Field to Market."
Michael Fassezke, president of milling
at Star of the West, said the company recognizes the unique position and opportunity it has to serve its commercial bakery
customers and, in turn, the consumer.
"Our company's diverse agricultural
business interests position us perfectly
to bridge the information gaps from local growers to consumer and provide the
necessary metrics to support sustainable
agricultural claims," he said.
Meanwhile, Keith Martus, vice-president of agronomy at Star of the West,
added that the company can help customers define and support sustainability
initiatives.
"At Star of the West, in addition to milling and cleaning flour, we also have an
agronomy division that works directly with
the farmer growers," Mr. Martus explained.
"With three agronomy locations we can help
make the connection from farm to fork real
for the food company or consumer." MBN
technology hub for start-up companies
and corporate research and development
operations. The Research Park is home to
120 companies employing students and
full-time technology professionals.
"We are on a constant search for new
innovations and new talent, whose fresh
thinking can help us bring new technologies to life," said Keith Narr, vice-president of Cargill's digital labs team. "With
an impressive engineering and computer
science program, the University of Illinois is an ideal partner to spur the growth
and innovation in our digital business."
The Cargill Innovation Lab will officially open later this fall, after phase one
of the partnership, which includes a 12week internship program. MBN
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Milling & Baking News - August 27, 2019

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