Archer Daniels Midland Company (ADM) has reached an agreement to acquire Probiotics International Limited (PIL), a UK based provider of probiotic supplements for human, pet, and production-animal use.
The all-cash transaction will be valued at £185 million. The deal is expected to close in the third quarter.
PIL, based in Somerset, UK — and known under its umbrella brand Protexin — is a leading provider of probiotic supplements for human wellness and animal markets, including aquaculture, equine, livestock and companion animals. With sales into more than 60 countries, PIL produces the popular Bio-Kult brand of probiotic supplements along with contract-manufactured products. The company has about 160 employees.
“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,” said Vikram Luthar, president, ADM health & wellness.
Archer Daniels Midland Company (ADM) has reached an agreement to acquire Probiotics International Limited (PIL), a UK based provider of probiotic supplements for human, pet, and production-animal use.
The all-cash transaction will be valued at £185 million. The deal is expected to close in the third quarter.
PIL, based in Somerset, UK — and known under its umbrella brand Protexin — is a leading provider of probiotic supplements for human wellness and animal markets, including aquaculture, equine, livestock and companion animals. With sales into more than 60 countries, PIL produces the popular Bio-Kult brand of probiotic supplements along with contract-manufactured products. The company has about 160 employees.
“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,” said Vikram Luthar, president, ADM health & wellness.
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