Archer Daniels Midland Company (NYSE: ADM) announced Friday that it has successfully completed its $1.8 billion acquisition of Neovia.
“The addition of Neovia represents a major milestone in the execution of our strategic plan to become a global leader in nutrition,” says 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.”
Luciano says this merger will expand the company’s geographic reach to better serve customers.
ADM’s acquisition of WILD Flavors in 2014 significantly expanded its human and animal nutrition capabilities. In the animal health and nutrition space, 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 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 provider of probiotic supplements for human wellness as well as a variety of animal markets, including aquaculture, equine, livestock and companion animals.
With the addition of Neovia, ADM Animal Nutrition now spans the globe, offering premixes, complete feed, ingredients, pet care solutions, aquaculture, additives and amino acids for its customers.
“The acquisition of Neovia marks an important new chapter for ADM Animal Nutrition,” said Pierre Duprat, president, ADM Animal Nutrition. “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.”