Cargill to acquire Italian animal feed company Raggio di Sole
09 Jun 2011
Cargill Inc, the US-based crops giant today said that it will buy Raggio di Sole, an Italian animal feed company, as part of its plan to expand its animal nutrition business in Italy.
Raggio di Sole is a well-known brand and has a wide portfolio of products, sold through a sales force and distribution network, and has over 150 employees across four production facilities in the country.
The acquisition is a natural extension of Cargill's animal nutrition business in Italy, as it will build on an existing market focus in the dairy segment and create opportunities in other segments. It will enhance Cargill's ability to deliver feed solutions to customers in the growing retail segment.
Cargill has been active in Italy since 1962 and currently employs over 700 people in 11 locations. Its business activities in the country include grain and oilseed trading, animal feed production and sales, sweeteners and starch production and sales, specialty food ingredients, river logistics network, cocoa and chocolate sales, tropical oils sales, flavours and juices.
Cargill, which has been in the animal nutrition business since 1884, currently has animal feed operations in 23 countries worldwide. In Europe, Cargill has animal nutrition businesses in Italy, Switzerland, Romania, Russia, Hungary, Ukraine, Poland and the Netherlands.
The two companies have complementary expertise and market presence in Italy and the combination adds to the strengths of both, and will enhance the range of products and services to customers, Cargill said in a release.
"Bringing together the committed, knowledgeable and experienced Raggio di Sole S.p.A workforce - along with their strong customer relationships - with Cargill's existing resources and capabilities will create a new, nationwide full service offering across the spectrum of animal nutrition customer's needs," said Silvio Ferrari, president of Cargill's business in Italy.
Customers have to trust their feed suppliers to access the latest research and technology and bring the benefits of experience and resources to the market," said Scott Ainslie, vice president of Cargill's global animal nutrition business."
Cargill did not disclose the financial terms of the transaction.
