Nutreco to acquire the animal nutrition business from Cargill in
Spain and Portugal
Nutreco announced today that it has agreed to acquire the animal
nutrition business of Cargill in Spain and Portugal. The acquisition
includes Cargill's 12 compound feed production facilities, with a
production volume of around 700,000 metric tonnes, annual sales of
approximately EUR 240 million and 450 employees. With this
acquisition Nutreco strengthens its leading market position in animal
nutrition in the region. The closing of the transaction is subject to
the approval of the European Commission anti-trust authorities.
The acquired business offers animal nutrition solutions for all
farmed animal species. After integration and transformation, the
acquired business is in two years' time expected to contribute a
similar operating margin as Nutreco's compound feed business in
Iberia. The total consideration for this acquisition is approximately
EUR 40 million which includes integration and transformation costs
and investments in production locations in the next two years.
Francisco Irazusta, Managing Director Nanta, Nutreco's animal
nutrition business in Iberia: "This acquisition will strengthen Nanta
with a team of professionals with significant know-how of the
business. Together with the commitment and knowledge of our people,
the talent of this new team will generate important synergies and
will enhance the level of the industry in terms of quality,
innovation and food safety for the benefit of our existing and new
customers."
Joe Stone, president of Cargill's global animal nutrition business:
"Cargill has been in animal nutrition in Spain and Portugal for many
years but now we have decided to reassess our portfolio. We are a
longstanding provider of raw materials to Nutreco for their animal
feed production and will continue to supply them from our other
operations in Spain. The sale of the business to Nutreco represents
an opportunity to better position it for future success. We are
confident that we are placing these operations in capable hands."
Jerry Vergeer, Nutreco's Executive Vice-President Agriculture: "This
acquisition enhances our solid position in this important region and
clearly demonstrates our desire to drive further growth in markets
where Nutreco has leading market positions."
* * * *
Nutreco
Nutreco is a global leader in animal nutrition and fish feed. Our
advanced feed solutions are at the origin of food for millions of
consumers worldwide. Quality, innovation and sustainability are
guiding principles, embedded in the Nutreco culture from research and
raw material procurement to products and services for agriculture and
aquaculture. Experience across 100 years brings Nutreco a rich
heritage of knowledge and experience for building its future. Nutreco
employs almost 9,300 people in 30 countries, with sales in 80
countries. Nutreco is listed on the Euronext stock exchange in
Amsterdam and has annual revenues approaching EUR 5 billion.
Nutreco in Spain
The Nutreco business activities in Spain and Portugal include
compound feed (Nanta), premix and feed specialties (Trouw Nutrition),
fish feed (Skretting), poultry processing (Grupo Sada) and pig
production (Inga Food). Together these activities have 27 production
plants and their own R&D and innovation centres. Nutreco employs more
than 3,500 permanent employees in Spain and generated revenues of
approximately EUR 1.3 billion in 2008.
For more information:
Jurgen Pullens, Director Investor Relations and Corporate
Communications, Nutreco
Telephone: +31 33 422 6134
Mobile: +31 6 5159 9483
E-mail: jurgen.pullens@nutreco.com
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