Source: Phibro Animal Health Corporation
Phibro Animal Health Corporation announced Thursday that it has acquired the business and assets of Osprey Biotechnics, Inc. (“Osprey”), a privately held developer and marketer of innovative microbial products.
Acquiring the Osprey business strengthens Phibro’s portfolio of nutritional specialty products and provides new opportunities in a fast-growing sector of the animal health industry, a company release said. Osprey manufactures and markets numerous products for a variety of applications and industries.
“Osprey is a great business run by people we deeply respect. This acquisition provides Phibro with new product opportunities and a cutting-edge organization with strong manufacturing capabilities,” said Jack Bendheim, Phibro’s Chairman, President and Chief Executive Officer. “Osprey’s proven and ever-expanding library of microbial strains will serve as an excellent platform for growth within the animal health industry as well as in burgeoning agriculture adjacencies such as seed coatings.”
Phibro expects the transaction to be accretive to adjusted EBITDA and adjusted diluted EPS for the fiscal year ending June 30, 2020. Phibro funded the acquisition through its existing credit facilities.
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