With a view to boost its presence in the global feed additives market, Cargill today has signed an agreement to acquire Diamond V.
The deal, which is expected to close in January 2018, will include all of Diamond V’s business, including the human health business, Embria Health Sciences, and its branded product EpiCorR. Diamond V’s headquarters will remain in Cedar Rapids, Iowa and the Diamond V brand will remain a platform for future investments. Diamond V will help enhance Cargill’s animal nutrition capabilities through its focus on immune function and digestive health and enable Cargill Animal Nutrition to better serve customers who are increasingly turning to unique natural technologies.
David MacLennan, Cargill’s CEO, said: “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. 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”.
Chuck Warta, president of Cargill’s premix and nutrition business, added: “Diamond V is a tremendous company with deep scientific expertise and a highly respected global brand. Adding Diamond V’s leading talent and technology as well as its applications for sustainable protein production, will enable us to deliver improved profitability and performance for our customers. Together, Cargill and Diamond V will accelerate the pace of innovation and drive strategic, long-term growth”.