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CARGILL COMPLETES ACQUISITION OF PROVIMI, CREATES GLOBAL ANIMAL NUTRITION BUSINESS
Nov. 23, 2011
Source: Cargill news release
Cargill has completed the acquisition of Provimi, a global animal nutrition company for an enterprise value of Euro 1.5 billion ($2.1 billion US).
By building on the existing strengths of the two companies, Cargill is creating a global leader in animal nutrition with the ability to offer the broadest array of products, services and capabilities.
The merger will bring together the complementary animal nutrition expertise and operations of Cargill and Provimi. Cargill's expertise in compound feed, supply chain and risk management will come together with Provimi's wide range of nutritional expertise, technology and portfolio of premix, additives and ingredients. This increased range of capabilities, delivered by more than 16,000 employees across a global network spanning 37 countries will offer distinctive value to serve customers' needs worldwide.
Cargill's new animal nutrition business will be led by Ton van der Laan, previously chairman and group chief executive officer of Provimi, who joins Cargill as a corporate vice president, and Cargill's animal nutrition business leader, Joe Stone.
"Bringing together the talents and expertise of our two organizations creates a global leader in animal nutrition that will enable us to have a broader market reach and an even better product and service capability. Along with our access to a global supply chain and an enhanced technology base we will be able to improve the delivery of innovative animal nutrition solutions to our customers," said Stone.
Van der Laan stated: "Our new animal nutrition business will develop and deliver a broad range of innovative, high quality products and services for our customers. By understanding and responding to customers' needs we will be able to offer them distinctive value, which in turn will help create growth opportunities for our customers and for our business, as we increase the scale and focus of our operations."
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