Alltech has acquired 100% of the outstanding shares of Masterfeeds, Inc., in a share purchase agreement with Ag Processing Inc (AGP).
Masterfeeds is a leading commercial animal nutrition company in Canada.
Since 2011, Alltech has acquired 12 other global companies - the acquisition of Masterfeeds now brings to 13 the number of companies in the Alltech family of companies.
Dr. Pearse Lyons, founder and president of Alltech said that Masterfeeds has long been a partner and friend of Alltech.
"With them fully on board now as an Alltech company, together we can narrow our focus and accelerate on-farm performance.
"Between Alltech’s primacy in science and Masterfeeds’ robust network of farm-focused team and dealers, we have a winning combination for moving Canadian agriculture forward to greater farm and ranch efficiency and profitability."
The addition of Masterfeeds to Alltech’s existing Canadian operations and other Canadian acquisition, EMF Nutrition, brings the companies’ total presence to approximately 700 Canadian employees.
Together they operate 25 feed manufacturing and premix facilities, nine retail locations and seven distribution centres in a business spanning the entire country, according to Alltech.
Rob Flack, President and CEO of Masterfeeds said that never in its 86-year history has Masterfeeds' future been as exciting as it is now that it has joined the Alltech family.
"Alltech is at the forefront of science in everything they do. This strengthens our ability to deliver on-farm nutrition solutions like never before."
Alltech and Masterfeeds have identified possible growth opportunities together - which may include nutritional technologies and feeding programmes for antibiotic-free formulation, feed efficiency, organic minerals, algae, mycotoxin management and crop protection and performance.
Masterfeeds also has equine and pet product lines, which may be further developed with Alltech nutritional technologies.
Masterfeeds will continue to be headquartered in London, Ontario, Canada, and led by its current chief executive officer, Rob Flack. In addition, Alltech’s own entity, Alltech Canada, remains headquartered in Guelph, Ontario, serving the entire Canadian feed industry.