Cargill to acquire animal nutrition leader Provimi
Aug. 16, 2011
by Meat&Poultry Staff
MINNEAPOLIS – Cargill is acquiring Provimi, the Rotterdam, Netherlands-based global animal nutrition company, for US$2.1 billion from Permira Funds, the private equity firm which owns Provimi. Provimi has agreed, on an exclusive basis, to begin the necessary Works Council consultations and appropriate regulatory approvals.
Cargill plans to acquire Provimi's worldwide animal nutrition business, which has operations in 26 countries and employs more than 7,000 people throughout Asia, Europe, Africa and Latin America. The acquisition would strengthen and expand Cargill's existing operations creating a global leader in animal nutrition.
"The combination of Cargill and Provimi would create a new, world-class animal nutrition offering with the expertise to offer customers a full range of enhanced products and services," said Paul Conway, Cargill vice chairman. "This acquisition would mark a significant step in Cargill's animal nutrition growth strategy and underlines our commitment to continued long-term investment to meet the needs of our customers around the world."
Cargill and Provimi have complementary market positions and strengths. Provimi has broad nutritional expertise, and a wide portfolio of premix, additives and ingredients; Cargill's animal nutrition business brings expertise in compound feed, supply chain and risk management as well as access to global trends, knowledge and information from across the agricultural supply chain.