It has been announced that the owner of the Bio-Kult and Lepicol brands has been acquired by Archer Daniels Midland (ADM) Company.
ADM is expanding its health and wellness capabilities with agreement to acquire Probiotics International Ltd (PIL), which is known under its umbrella brand, Protexin, and specialises in probiotic supplements for human, pet, and production-animal use.
The all-cash transaction will be valued at £185 million, subject to customary adjustments. The deal, which is subject to regulatory review, is expected to close in the third quarter.
Commenting on the news, Vikram Luthar, President at ADM Health and Wellness, said: “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. We took a major step in this area last year with the addition of Biopolis, and then added to our capabilities with our personalised 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.”
Vince Macciocchi, President of ADM’s Nutrition business, continued: “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. A key part of that integrated Nutrition platform is our Health and 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.”
And Jonathan Sowler, PIL Commercial Director, added: “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. 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.”