ADM expands health & wellness capabilities with agreement to acquire Porbiotics International Ltd.
Addition to ADM’s existing health and wellness capabilities creates fully integrated probiotics and nutraceuticals business for consumer and commercial markets
Archer Daniels Midland Company has announced that it has reached an agreement to acquire Probiotics International Limited (PIL), a U.K.-based provider of probiotic supplements for human, pet, and production-animal use. The all-cash transaction will be valued at £185 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.”