ADM to buy French animal nutrition business Neovia for $1.8 billionStaff 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).
Acquisition Neovia is majority owned by French cooperative group InVivo
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. ■