WASHINGTON, Oct. 24, 2017 - Cargill, the nation’s largest privately-owned company, signed a binding agreement to acquire Diamond V, a leading global provider of innovative natural solutions and technologies that improve animal health, animal performance, and food safety.
“This acquisition strengthens Cargill’s and Diamond V’s shared vision to be a leader in creating new solutions for evolving consumer preferences for sustainable and wholesome food production,” said David MacLennan, Cargill’s chairman and chief executive officer, in a release today. “Our combined businesses will accelerate growth, build industry-leading capabilities and natural solutions for animal health and food safety, and help fulfill Cargill’s purpose to nourish the world in a safe, responsible and sustainable way.”
The purchase will encompass all of Diamond V’s business, including the human health business, Embria Health Sciences, and its branded product EpiCor®. Diamond V’s headquarters will remain in Cedar Rapids and the Diamond V brand will be the platform for future investments in natural solutions for safer animal food production, the companies explained.
This acquisition, which follows Cargill’s recent investment in Delacon, the global leader in natural, plant-based phytogenic additives, will give Cargill market-leading participation in the $20 billion global animal feed additives market, as well as world-class technical, regulatory and R&D capabilities and go-to-market strength in approximately 70 countries worldwide.
This investment will enable Cargill's animal nutrition business to better serve customers who are increasingly turning to unique natural technologies to unlock the potential in feed to promote healthier animals, improve performance and to help them produce safer more wholesome food. Natural immune support products in animal feed – like natural health supplements for people — are increasingly being used to improve immunity and digestive health, according to the release.
Terms of the deal were not disclosed. The transaction is expected to close in January 2018, subject to regulatory approval and customary closing conditions.
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