Alltech is
buying all of the shares of Masterfeeds Inc. from Ag Processing Inc.
No price
has been revealed.
Masterfeeds
will continue to have its headquarters in London and Alltech in Guelph.
Combining Alltech, Masterfeeds and EMF Nutrition, another Alltech-owned Canadian company, will bring the staff to 700 Canadians operating 25 feed manufacturing and premix facilities, nine retail locations and seven distribution centers across Canada.
“This is a
crucial time in agriculture, and Canadian farmers are facing ever-increasing
pressures, including the continued drive to produce more with fewer resources,”
said Dr. Pearse Lyons, founder and president of Alltech.
“This new opportunity
will enable more efficient delivery of superior animal nutrition and tailored
feeding programs, supported by robust scientific research.”
“Alltech’s
investment strategy is unfolding in exciting ways,” stated Rob Flack, president
and CEO of Masterfeeds. “Alltech’s primacy in science, supported by an
extensive research and development program, is both cutting-edge and relevant.
Masterfeeds’ proven on-farm feeding solutions will be strengthened through
proprietary Alltech nutrition technology, adding further value to our customers
throughout Canada.”
“Masterfeeds
and Alltech are two of the most respected brand names in Canadian animal
agriculture,” said Keith Spackler, CEO, Ag Processing Inc (AGP).
Rob Flack
remains chief executive officer of Masterfeeds.
“We are truly fortunate to become part of a
financially strong, growth-oriented private company with a global vision,” said
Flack.
Alltech
recently bought Ridley Inc. from its Australian owners.
