CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it has reached an agreement to acquire Probiotics International Limited (PIL), a U.K.-based provider of probiotic supplements for human, pet, and production-animal use. The all-cash transaction will be valued at £185 million, subject to customary adjustments.
“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. “We took a major step in this area last year with the addition of Biopolis, and then added to our capabilities with our personalized nutrition collaboration with Mayo Clinic, our joint development agreement with Vland Biotech, and our new enzyme lab in California. Now, with the addition of PIL’s extensive sales and marketing network to our existing R&D capabilities, we are building a world class, fully integrated probiotics and nutraceuticals business.”
PIL, based in Somerset, U.K. — 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.
“Early this year, we brought our wide range of animal and human nutrition product lines together into a single Nutrition business unit, with the goal of not just feeding the world, but also providing better nutrition and improving the quality of life for consumers around the globe,” said Vince Macciocchi, president of ADM’s Nutrition business unit. “A key part of that integrated Nutrition platform is our Health & Wellness business, which includes bioactives, botanical extracts and specialty nutritional oils, including innovative products such as our Onavita™ algal DHA oil, and Novatol® Vitamin E 1490PH. The addition of PIL is just one of the many important investments we are making to grow our entire integrated Nutrition business. From the growth of our bioactives platform, to new Animal Nutrition facilities in North America and China, to our expanding network of food and beverage ingredient innovation centers, we are enhancing our presence in a growing market and ensuring that we are the go-to provider for complete health and wellness and ingredients solutions for human and animal nutrition customers alike.”
“PIL has created market-leading brands in the veterinary, equine and human health markets around the world, and we are delighted to join ADM’s Health and Wellness business. We very much look forward to building on this success,” said Jonathan Sowler, PIL commercial director. “There are great synergies with ADM and Biopolis, especially in the area of R&D, and we plan to add to an already very exciting development pipeline to provide innovative, evidence-based products of the highest quality for people and animals.”
The deal, which is subject to regulatory review, is expected to close in the third quarter.
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
About Probiotics International Ltd (Protexin Healthcare)
Protexin Healthcare is dedicated to producing innovative, research based probiotic products of the highest quality for the healthcare market. The natural supplements they manufacture are extensively researched for safety and efficacy. Protexin works closely with leading universities and research centres around the world on a range of on-going research programmes. Every product produced by Protexin is manufactured in their own purpose built, state-of-the-art facility in Somerset, U.K. All products are subject to the same high standard of production and quality control as pharmaceutical products and they hold the following accreditations; cGMP (MHRA), ISO 9001:2008, FEMAS, VMD (category 5), each of which involves regular audits to ensure standards are maintained.
Protexin has also been awarded The Queen’s Award for Enterprise in International Trade in both 2011 and 2016 as well as a 2* Best Company to work for in 2018.
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with approximately 31,000 employees serving customers in more than 170 countries. With a global value chain that includes approximately 500 crop procurement locations, 270 ingredient manufacturing facilities, 44 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at www.adm.com.