Alltech acquires Ridley Inc.

Alltech
Wednesday, 29 April 2015
By Alltech

April 30, 2015 - Alltech and Ridley Inc. recently announced that they have entered into a plan of arrangement agreement under which Alltech will acquire 100 per cent 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 per cent to the 20-day volume weighted average price of Ridley’s common shares on the TSX as of April 22, 2015.  The closing price of the Ridley shares on the TSX on April 22, 2015 was CAD $33.94.  The boards of directors of both companies have unanimously approved the merger.

Dr. Pearse Lyons, founder and president of Alltech, said in a release that Alltech will be able to bring its nutrition technology to market faster and more effectively by utilizing and investing in Ridley's supplements, block products, extensive livestock and poultry producer distribution network and on-farm presence. 

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.

The combined company will have a presence in over 128 countries and 4,200 employees worldwide.  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. 

 

Add comment


Security code
Refresh

Subscription Centre

 
New Subscription
 
Already a Subscriber
 
Customer Service
 
View Digital Magazine Renew

Most Popular

Latest Events

WESTVET
Tue May 14, 2019 @ 8:00am - 05:00pm
BC Poultry Symposium
Wed May 15, 2019 @ 8:00am - 05:00pm
Platinum Brooding Course
Thu May 23, 2019 @ 9:45am - 03:00pm

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.