Following a turbulent few months for Irish manufacturer Keenan, in which it recently went into administration, nutrition expert Alltech has agreed to buy the struggling company.
The buyout sees Keenan become the 14th acquisition for Alltech globally since 2011. Of the acquisition, Dr Pearse Lyons, founder and president of Alltech, said: “Between Alltech’s primacy in science and Keenan’s manufacturing strength and technological know-how, we have a winning combination for delivering greater farm efficiency and profitability direct to our farming customers.”
Alltech and Keenan say they have identified possible growth opportunities together, which may include nutritional technologies and feeding programmes focused on feed efficiency and herd health, as well as advanced ration formulation.
Alric Blake, CEO of Alltech stated: “Alltech is looking for avenues to better deliver its brand to farmers and provide nutritional solutions to those who directly benefit from their use, whether in animal or crop production.”
With nearly 100 manufacturing sites globally, Alltech is the leading producer and processor of yeast and organic trace minerals, and its flagship algae production facility in Kentucky is one of only two of its kind in the world.