Cargill, which operates globally in the fields of food, agriculture, finance, industrial products, and services, has signed an acquisition contract with Diamond V, a US-based natural animal feed producer.
Global commodity trader Cargill has bought Diamond-V, a US-based natural animal feed producer. Cargill, who bought the Southern States Cooperative’s animal feeding activities in the past few weeks and aimed to grow in the animal feed market, did not disclose the cost of Diamond V and any other provisions of the contract. The purchase is planned to be completed in January 2018, subject to regulatory approval and customary closing conditions.
“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. Indicating that he is excited with what the two companies can accomplish together, Diamond V’s President Jeff Cannon uttered, “This acquisition is an investment in the well-being of animals -and ultimately, in people.”
Joining forces for Cargill, an experienced nutritionist, and Diamond V, a global player with innovative focus on immune functions and digestive health, is considered a major breakthrough in food safety. This acquisition is expected to 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. Jeff Cannon prognosticates about the move as follows: “Adding Cargill’s vast resources and global reach to Diamond V’s industry-leading practitioners, scientists, and technical experts, will allow the new organization to provide world-class, innovative technologies and solutions to the global animal health and nutrition industry.”
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