Archer Daniels Midland (ADM) has agreed a £185 million deal to acquire UK-based probiotic supplement manufacturer Probiotics International Limited (PIL).
PIL – also known as Protexin Healthcare – produces the Bio-Kult brand of probiotic supplements along with other contract-manufactured nutrition products, and the company sells its range of products in 60 countries.
ADM says that the acquisition will greatly strengthen its position in the health and wellness segment, and the deal is expected to close in the third quarter of the year.
Vikram Luthar, president, ADM Health & Wellness said: “ADM is already one of the world’s largest providers of human and animal nutrition solutions, and the acquisition of PIL will add to our extensive portfolio of products that promote health and wellness.
“We took a major step in this area last year with the addition of Biopolis, and then added to our capabilities with our personalized nutrition collaboration with Mayo Clinic, our joint development agreement with Vland Biotech, and our new enzyme lab in California.
“Now, with the addition of PIL’s extensive sales and marketing network to our existing R&D capabilities, we are building a world-class, fully integrated probiotics and nutraceuticals business.”
Vince Macciocchi, president of ADM’s Nutrition business unit added: “Early this year, we brought our wide range of animal and human nutrition product lines together into a single Nutrition business unit, with the goal of not just feeding the world, but also providing better nutrition and improving the quality of life for consumers around the globe.
“We are enhancing our presence in a growing market and ensuring that we are the go-to provider for complete health and wellness and ingredients solutions for human and animal nutrition customers alike.”
Jonathan Sowler, PIL commercial director said: “We are delighted to join ADM’s Health and Wellness business. We very much look forward to building on this success.
“There are great synergies with ADM and Biopolis, especially in the area of R&D, and we plan to add to an already very exciting development pipeline to provide innovative, evidence-based products of the highest quality for people and animals.”
By Martin White
Source: FoodBev
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