PICO Holdings, Inc. | Stephens

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Financial Advisor

PICO Holdings, Inc.

$127 Million 07/31/2015 Consumer Complete
Public Companies
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Transaction Details

  • On July 13, 2015, PICO Holdings, Inc. (NASDAQ:PICO) sold substantially all of the assets of its majority owned canola processing subsidiary PICO Northstar Hallock, LLC to CHS Inc. for $127 million
  • After the estimated target working capital adjustment, and repayment of approximately $75 million in debt associated with PICO Northstar Hallock’s assets, the sale will net PICO Northstar estimated cash of $30 million, before transaction related costs
  • It is anticipated that all of PICO Northstar Hallock’s plant employees will be retained by CHS
  • With the closing of this sale, PICO Holdings will exit its canola processing business

About the company

Based in La Jolla, California, PICO Holdings, Inc. is a diversified holding company

Operating segments include water resource and water storage operations, real estate operations, agribusiness operations, and corporate

PICO Northstar Hallock, LLC, doing business as Northstar Agri Industries, started operations in 2012 and is the first operational canola processing plant with an integrated refinery in Minnesota

PICO Northstar Hallock was a consolidated subsidiary in the agribusiness operations segment of PICO Holdings