ADM wraps up €1.54bn acquisition of French animal nutrition business Neovia
ADM acquisition of Neovia : US food processing company Archer Daniels Midland (ADM) has wrapped up its previously announced €1.535 billion acquisition of French animal nutrition business Neovia, as per the latest food acquisition news.
The deal, which was signed in July 2018, creates a leading global manufacturer of value-added animal nutrition solutions while providing ADM geographic expansion in three continents along with innovation capabilities and a diversified product portfolio. The terms of the ADM acquisition of Neovia deal and the background can be read here.
Based in Saint-Nolff, Britanny, Neovia manufactures value-added animal nutrition solutions. It operates 72 production plants and has a footprint in 25 countries.
Founded in 1954, the French animal nutrition business manufactures and sells a range of of nutrition products for the feed industry. It operates in business lines like premix and value-added services, pet care, additives and ingredients, aquaculture and complete feed.
Commenting on ADM acquisition of Neovia, Juan Luciano – ADM Chairman and CEO said: “The addition of Neovia represents a major milestone in the execution of our strategic plan to become a global leader in nutrition.
“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 through its acquisition of WILD Flavors in 2014 embarked on its most extensive portfolio transformation to significantly grow its human and animal nutrition capabilities. The US food processing company has gone on to acquire pet treat manufacturer Crosswind Industries and Protexin, a provider of probiotic supplements for human wellness and a variety of animal markets in the recent times.
With the acquisition of Neovia, ADM Animal Nutrition is spread over the world, providing premixes, complete feed, ingredients, pet care solutions, aquaculture, amino acids and additives to customers.
Pierre Duprat – president, ADM Animal Nutrition, commenting on ADM acquisition of Neovia, Juan Luciano, said: “The acquisition of Neovia marks an important new chapter for 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.
“Combining our resources, expertise, innovation and research-driven technologies creates something very special: the premier global provider of animal nutrition ingredients and solutions, best-in-class customer service and leading R&D capabilities for our animal nutrition customers across the globe and creating value for our shareholders.”
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