Alltech will acquire 100% of the outstanding stock of Ridley Inc., a commercial animal nutrition company based in Mankato, Minn. The total consideration payable to Ridley shareholders is approximately $521 million.
The boards of directors of both companies unanimously approved the merger. The transaction is subject to approval by Ridley shareholders, regulatory review and other customary closing conditions. The transaction is expected to close by the end of the second quarter of 2015.
Ridley produces animal nutrition supplements, formulated complete feeds, premixes, block supplements, animal health products and feed ingredients, with an extensive livestock and poultry producer distribution network and on-farm presence.
Founded in 1980 by Dr. Pearse Lyons, Alltech is based in Lexington, Ky. It is a natural nutrition and scientific innovation company utilizing yeast fermentation, enzyme technology, algae and nutrigenomics.
The combined companies will have a presence in over 128 countries, with 4,200 employees worldwide.