Evialis to buy majority stake in Mexican feed maker
French animal feed manufacturer Evialis has agreed to buy a 70 percent stake in privately owned Malta Cleyton, a Mexican animal feed and pet food manufacturer.
The deal meets the long-term goals of both organisations: it is in line with Evialis' strategy of internationalization and gives it access to the world's fourth largest feed market while Malta Cleyton will benefit from a new strategic shareholder that will bring scientific, technical and commercial know-how to back its fast growing expansion.
Malta Cleyton sells close to 600 thousand tonnes and has a turnover of around €130 million, employs 700 persons, owns 10 facilities spread throughout the country and has a subsidiary in Brazil. Its full range of products isvery similar to Evialis.
With this acquisition, Evialis will almost double its international turnover.
The deal calls for Evialis to acquire 50 per cent of the shares as soon as governmental approval is granted and 20 per cent more within a year.The 30 per cent remaining will stay with the present shareholders i.e., 10 per cent with the US cooperative Growmark, and 20 per cent with the management team.
Financial terms of the deals were not disclosed.
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