Bankrupt Benson Hill Assets Purchased

JEFFERSON CITY, Mo. (DTN) -- Roughly two months after St. Louis-based Benson Hill, a specialty soybean company, announced it had filed for Chapter 11 bankruptcy relief, a new owner of the company's business assets has been announced.

This week, the United States Bankruptcy Court for the District of Delaware approved the sale of Benson Hill's assets to a new company, Confluence Genetics LLC. The new endeavor has been spearheaded by agribusiness investors including Expedition Ag Partners and S2G Investments.

The sale is set to close at 11:59 p.m. Friday, May 23.

Confluence Genetics will be headquartered in the same 47,000-square-foot facility where Benson Hill housed its Crop Accelerator speed-breeding operations. According to a press release from the new company, the sale will "enable the historic business to continue" as a "leaner, innovation-driven leader in soybean trait development."

Benson Hill, known for developing specialty soybeans for specific end uses, was founded in 2012 and became a publicly traded company in 2021. As Confluence Genetics, the company will focus on scaling its proprietary ultra-high protein soybean genetics for animal feed while expanding market position and geographies for its specialty food grade portfolio.

"This is more than a financial reset. It's a strategic reboot and a bright beginning," said Kim Hurst, newly appointed CEO for Confluence Genetics, in a press release. "With our proprietary genetics, CropOS technology platform and state-of-the-art speed-breeding facility, we will deliver high-value, differentiated, quality trait soybeans."

In total, Confluence Genetics' acquisition includes more than 350 patents issued or pending. Its 2029 soybean class -- recently planted in 2025 field trials -- is expected to deliver advanced quality traits in the industry, according to the company press release. This lineup of value-added varieties is designed to deliver higher protein, boost oil quality and offer differentiated genetic advancements.

In response to an inquiry from DTN, a company spokesperson said all contracts with farmers who are growing specialty soybeans for Benson Hill in 2025 will be honored by Confluence Genetics. While the spokesperson said acreage totals for this year were not being publicly shared at this time, a letter to shareholders from former Benson Hill CEO Deanie Elsner in November 2024 stated the company expected to plant its genetics on more than 450,000 acres in 2025.

Mike DeCamp, president and CEO of Expedition Ag Partners, one of the investing partners, will serve as the incoming board executive chairman for Confluence Genetics. He emphasized the company's future is built upon valuable lessons learned from past experiences and possesses significant growth potential.

"Confluence Genetics has the right tools, talent and technology to shape soy innovation in ways that we're only beginning to appreciate," DeCamp said in a press release. "We at Expedition Ag believe Confluence Genetics has a promising future as a nimble innovation engine that will deliver value from farm gate to end user. Our team is thrilled to support Confluence Genetics as it combines the ambitious spirit of a startup with the disciplined approach of a category leader."

Confluence Genetics will operate with a team of about 60 employees. In February 2025, Benson Hill reported to the U.S. Securities and Exchange Commission that it had furloughed 43 employees, representing about 36% of its workforce.

More information about Confluence Ag will soon be available at www.confluence.ag.

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Jason Jenkins can be reached at jason.jenkins@dtn.com

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