With an ever growing demand by consumers for natural and wholesome foods, even (or especially) for our animal friends, Minnesota’s Cargill has signed a binding agreement to acquire Diamond V.
What is Diamond V? We’re glad you asked.
Diamond V is a leading global provider of natural solutions and technologies that improve animal health and performance, as well as regulate and monitor food safety. The goal is to boost these technologies to a whole new level through the agreement with Cargill, as president and CEO of Diamond V Jeffrey Cannon says, “Cargill and Diamond V will expand and create new world-class natural health technologies that will provide unique opportunities for customers and consumers alike. Adding Cargill’s vast resources and global reach to Diamond V’s industry-leading practitioners, scientists, and technical experts, will allow the new organization to provide world-class, innovative technologies and solutions to the global animal health and nutrition industry.”
Diamond V is a Cedar Rapids, Iowa-based company that has a 75-year history and strong global reputation. This reputation was built on developing unique, research-proven immune support technologies that work naturally with the biology of the animal, working to strengthen the immune system and promote a healthy digestive system.
The company will also enhance Cargill’s deep nutritional expertise built over decades and delivered through its animal nutrition business, through an innovative focus on immune function and digestive health. These critical components will help customers improve the well-being of their animals and the safety of the food supply.
The president of Cargill’s premix and nutrition business, Chuck Warta, touched on Diamond V’s global reputation by saying, “Diamond V is a tremendous company with deep scientific expertise and a highly respected global brand. Adding Diamond V’s leading talent and technology as well as its applications for sustainable protein production, will enable us to deliver improved profitability and performance for our customers. Together, Cargill and Diamond V will accelerate the pace of innovation and drive strategic, long-term growth.”
The purchase will encompass all of Diamond V’s business, including the human health business, Embria Health Sciences, and its branded product EpiCor®. Diamond V’s headquarters will remain in Cedar Rapids, and the Diamond V brand will be the platform for future investments in natural solutions for safer animal food production.
This acquisition is the second such acquisition by Cargill, after their recent investment in Delacon, a developer of natural, plant based phytogenic additives. These two new additions will make Cargill the leading participant in the $20 billion global animal feed additives market. Cargill will now also have world’s top technical, regulatory, and research and development capabilities, as well as go-to-market strength in about 70 countries world wide.
Says Cargill’s chairman and chief executive officer, David MacLennan, “This acquisition strengthens Cargill’s and Diamond V’s shared vision to be a leader in creating new solutions for evolving consumer preferences for sustainable and wholesome food production. Our combined businesses will accelerate growth, build industry-leading capabilities and natural solutions for animal health and food safety, and help fulfill Cargill’s purpose to nourish the world in a safe, responsible and sustainable way.”
Cannon is equally excited for this new partnership: “I am excited about what Diamond V and Cargill can accomplish together. This acquisition is an investment in the well-being of animals — and ultimately, in people.”
Terms of the deal were not disclosed. The transaction is expected to close in January 2018, subject to regulatory approval and customary closing conditions.
(All information from this press release)
