ADM to acquire Probiotics International Ltd. for £185 million
Archer Daniels Midland Co. has reached an agreement to acquire Probiotics International Ltd. (PIL), a UK-based provider of probiotic supplements for human, pet, and production-animal use.
Archer Daniels Midland Co. has reached an agreement to acquire Probiotics International Ltd. (PIL), a UK-based provider of probiotic supplements for human, pet, and production-animal use. The all-cash transaction will be valued at £185 million (approximately $244 million), subject to customary adjustments.
“ADM is already one of the world’s largest providers of human and animal nutrition solutions, and the acquisition of PIL will add to our extensive portfolio of products that promote health and wellness,” said Vikram Luthar, president, ADM Health & Wellness. “We took a major step in this area last year with the addition of Biopolis, and then added to our capabilities with our personalized nutrition collaboration with Mayo Clinic, our joint development agreement with Vland Biotech, and our new enzyme lab in California. Now, with the addition of PIL’s extensive sales and marketing network to our existing R&D capabilities, we are building a world class, fully integrated probiotics and nutraceuticals business.”
PIL, based in Somerset, United Kingdom—and known under its umbrella brand Protexin—is a provider of probiotic supplements for human wellness and animal markets, including aquaculture, equine, livestock, and companion animals. With sales into more than 60 countries, PIL produces the Bio-Kult brand of probiotic supplements along with contract-manufactured products. The company has about 160 employees.
The deal, which is subject to regulatory review, is expected to close in the third quarter.