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AGP Announces Agreement To Sell Interest In Masterfeeds

Cooperative company, Ag Processing Inc., (AGP) announced today (Tuesday) they have signed a definitive agreement with Alltech, a global animal nutrition and health company, to sell them their interest in Masterfeeds, a Canadian animal nutrition company. Alltech’s recent acquisition of Ridley, Inc. increased their interest in Masterfeeds LP, the operating subsidiary of Masterfeeds by 30 percent. AGP CEO, Keith Spackler, said it is their belief that Alltech’s acquisition of Masterfeeds creates an alliance that enhances the company’s ability to serve their customers. Masterfeeds has been an important part of AGP since 1991 and is one of the most respected names in Canadian animal nutrition, but Spackler added, this agreement is beneficial to AGP’s ongoing strategic and operational goals. The transaction will be subject to regulatory approval and customary closing conditions. It is projected to be completed prior to the end of this calendar year.

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