LEXINGTON, Ky. – Alltech announced an agreement to acquire Ridley Inc. for $521 million. Ridley is a Mankato, Minn.-based animal nutrition company.

The combined company is expected to generate annual revenues in excess of $1.6 billion. Operations will cover more than 128 countries with 4,200 employees worldwide. The transaction is subject to approval by Ridley shareholders, regulatory review and other closing conditions. The transaction is expected to close by the end of the second quarter.

Ridley is one of the largest commercial animal nutrition businesses in North America. The company manufactures markets formulated complete feeds, premixes, feed supplements, block supplements, animal health products and feed ingredients. Ridley's customers include livestock producers, and equine and pet breeders.

“This transformative transaction that combines two industry leaders allows Alltech to deliver better performance and value to livestock and poultry producers across the globe,” said Dr. Pearse Lyons, founder and president of Alltech. “With Ridley's leading animal nutrition supplements, block products, extensive livestock and poultry producer distribution network and on-farm presence, we will be able to bring our advanced nutrition technology to market faster and more effectively.”

Through the acquisition, Alltech will be able to deliver nutrition solutions to a broader range of livestock and poultry producers in the United States, while delivering more advanced animal nutrition solutions globally.

“Joining Ridley with Alltech is about bringing the best nutrition solutions to meat, milk and egg producers around the world,” said Steven J. VanRoekel, president and CEO of Ridley. “Alltech is the technological leader with a broad global footprint so by uniting forces we will create a scalable platform to grow and market solutions to enhance the profitability of producers. We are also joining a financially strong company that is committed to investing in science and innovation so that we can deliver the most advanced animal nutrition solutions.”