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ADM to buy French animal nutrition business Neovia for $1.8 billion

Staff Writer | July 3, 2018
Archer Daniels Midland Company (ADM) is in exclusive talks to take over French animal feed business Neovia for 1.5 billion euros ($1.8 billion).
Archer Daniels Midland
Acquisition   Neovia is majority owned by French cooperative group InVivo
Neovia is majority owned by French cooperative group InVivo. Investment group Eurazeo also has a 17 percent stake.

ADM and its rivals such as Bunge, Cargill and Louis Dreyfus have been forced to review their approach in recent years as a global oversupply of food commodities made it tough to turn a profit on their core business: buying, processing and selling soy, corn and wheat.

The acquisition, first reported by Reuters, would be ADM’s second largest to date after it purchased natural food ingredients company Wild Flavors for $3 billion in 2014.

Neovia, which had sales of 1.7 billion euros ($2 billion) in 2017, produces and sells a range of nutritional products for animal feed producers. Its activities include premix and high value-added services, pet care, aquaculture, additives and ingredients, and complete animal feed.