Archer Daniels Midland Company has completed its €1.544 billion ($1.8 billion) acquisition of Neovia, a French animal feed business.
Related: The acquisition makes ADM a major player in the global animal feed industry. - Reuters
“The addition of Neovia represents a major milestone in the execution of our strategic plan to become a global leader in nutrition,” said ADM Chairman and CEO Juan Luciano. “This acquisition — our largest since we added WILD Flavors in 2014 — instantly creates a premier global leader in animal nutrition, while simultaneously providing a strong platform for future growth. It meets our returns objectives, expands our geographic reach, and helps us continue to expand our portfolio and better serve our customers.”
ADM’s acquisition of WILD Flavors in 2014 kicked off the most extensive portfolio transformation in the company’s 115-year history. The company has made a series of expansions and investments in recent years, including:
- Building and renovating three specialty animal nutrition plants in China and four plants in the U.S.;
- Acquiring pet treat manufacturer Crosswind Industries;
- Expanding pet food ingredient manufacturing capabilities in North America
- Investing in state-of-the-art value added complete feed manufacturing facilities in North America
- Entering into a partnership with China-based Qingdao Vland Biotech Group and building a cutting-edge research lab in California to develop and commercialize animal feed enzymes; and
Purchasing Protexin, a leading provider of probiotic supplements for human wellness as well as a variety of animal markets, including aquaculture, equine, livestock and companion animals.
“The acquisition of Neovia marks an important new chapter for ADM Animal Nutrition,” said Pierre Duprat, president, ADM Animal Nutrition. “I have been fortunate enough to meet with talented colleagues from Neovia over the last six months, and I am excited about the global platform this combination of our existing capabilities and Neovia has created to serve our customers and accelerate our growth.”
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