Fermenta Biotech announced that Fermenta Biotech USA, LLC, a wholly owned subsidiary of the Company, has acquired a 52% membership interest in AGD Nutrition, LLC.
AGD Nutrition LLC is in the similar line of business as that of the Company and Fermenta Biotech USA, LLC, the exchange filing said.
“The main purpose of acquisition is to facilitate exports and enhance Company’s footprint in North America,” according to the exchange filing.
The aggregate consideration for the purchase of membership interest shall be USD $1,260,500, it said.
Commenting on the acquisition, Krishna Datla, Managing Director, Fermenta Biotech Ltd. said, “AGD has been our valued partner for many years, and this strategic investment intensifies our longstanding mutually-beneficial relationship in the North American market. We are confident that this alliance will result in increased customer proximity and reaffirm our commitment towards our clientele as a sustainable partner for their nutritional ingredients’ requirements. We look forward to the opportunities that will emerge from this partnership in way of stronger relationships with customers in the fields of animal nutrition, pharmaceuticals and dietary supplements.”
J. Bradley Reynolds, Director, AGD Nutrition LLC commented, “This will be a landmark alliance, where FBL’s technologies and quality product offerings will complement AGD’s relationships with its robust customer base. It marks a milestone in our efforts to achieve sustainable as well as profitable growth and underlines our focus to boost product delivery in the nutritional ingredients segment.”
Established in 1951, Fermenta is one of the largest manufacturers of Vitamin D3 and a key global player. Headquartered in Thane, India, Fermenta caters to clientele across the globe, with a worldwide distribution network. Its state-of-the-art R&D centre is based at Thane, and world class manufacturing facilities are located in Kullu, Himachal Pradesh and Dahej, Gujarat.
AGD Nutrition LLC (AGD) was founded in 2002 and is shaped by professionals who have managed food and pharmaceutical advancements at leading multinational firms. Currently based out of Texas, AGD possesses expertise in animal nutrition, specifically, ingredients for feed applications. It is also a distinct player in the Food and Dietary Supplements domain across North America.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.