English newsitems

Merger of Alltech and Ridley announced

Dublin (Ireland) – Alltech and Ridley are planning to merge. The boards of directors of both companies have unanimously approved the merger.

Share value

Alltech and Ridley have entered into a plan of arrangement agreement under which Alltech will acquire 100 percent of the outstanding stock of Ridley, one of the leading commercial animal nutrition companies in North America, for CAD $40.75 per share. The total consideration payable to Ridley shareholders is approximately CAD $521 million. The price of CAD $40.75 per share represents a premium of approximately 23% to the 20-day volume weighted average price of Ridley’s common shares on the TSX as of April 22, 2015.

Leading

“This transformative transaction that combines two industry leaders allows Alltech to deliver better performance and value to livestock and poultry producers across the globe,” said Dr. Pearse Lyons, founder and president of Alltech. “With Ridley’s leading animal nutrition supplements, block products, extensive livestock and poultry producer distribution network and on-farm presence, we will be able to bring our advanced nutrition technology to market faster and more effectively.”
Ridley is one of the largest commercial animal nutrition businesses in North America. Ridley manufactures and markets a full range of animal nutrition solutions, including formulated complete feeds, premixes, feed supplements, block supplements, animal health products and feed ingredients. Ridley’s customers include livestock producers as well as equine and pet breeders. Ridley’s products are sold to producers by direct sales or through distributor and dealer channels.

World wide

Both companies are industry leaders committed to investing in sustainable nutrition solutions and advanced feeding programmes that optimise physical and financial performance on farms, leading to increased efficiency and value. The combined company will have a presence in over 128 countries and 4,200 employees worldwide. Alltech has more than doubled its sales in the last three years and is on target to achieve USD $4 billion in sales in the next few years.
The transaction is subject to approval by Ridley shareholders, regulatory review and other customary closing conditions. The transaction is expected to close by the end of the second quarter.

ridley-alltech-family

Geef een reactie

Het e-mailadres wordt niet gepubliceerd. Vereiste velden zijn gemarkeerd met *

Deze website gebruikt Akismet om spam te verminderen. Bekijk hoe je reactie-gegevens worden verwerkt.