Archer Daniels Midland Company (ADM) has announced the completion of its €1.544 billion acquisition of Neovia.
With the addition of Neovia, ADM Animal Nutrition offers premixes, complete feed, ingredients, pet care solutions, aquaculture, additives and amino acids to its global customer base.
The acquisition is the latest in ADM’s expansion of its human and animal nutrition capabilities, which kicked off in 2014 with the acquisition of WILD flavors. In the ensuing years, ADM’s investments in the space have include:
- Building and renovating three specialty animal nutrition plants in China and four in the U.S.
- Acquiring pet treat manufacturer Crosswind Industries
- Investing in complete feed manufacturing facilities and expanding pet food manufacturing capabilities in North America
- Entering a partnership with China-based Qingdao Vland Biotech Group and building a research lab in California for the development and commercialization of animal feed enzymes, and
- Purchasing probiotic supplement provider Protexin
“The addition of Neovia represents a major milestone in the execution of our strategic plan to become a global leader in nutrition,” said ADM chairman and CEO Juan Luciano. “This acquisition — our largest since we added WILD Flavors in 2014 — instantly creates a premier global leader in animal nutrition, while simultaneously providing a strong platform for future growth. It meets our returns objectives, expands our geographic reach, and helps us continue to expand our portfolio and better serve our customers.”