February 12 (SeeNews) - French yeast manufacturer Lesaffre said on Monday it acquired the yeast extract factory of US-based natural animal nutrition group Alltech in Senta, in northern Serbia.
The transaction is in line with Alltech’s strategy to focus on core animal and crop nutrition business and will strengthen the leading position of Lesaffre in the yeast extract market, the French company said in a statement.
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No financial details on the deal were disclosed.
"On the yeast extracts and its derivatives market, Lesaffre is recognised as a reliable partner with expertise in producing tailor-made solutions,” the CEO of Lesaffre, Antoine Baule, said in the statement. "This acquisition will strengthen our presence in this market. In fact, now with eight facilities established around the world (Western and Eastern Europe, China, United States, Brazil), we are all the more committed to meeting our customer specific needs globally."
The factory will be renamed to Biospringer RS, and will continue to produce baker’s yeast for the Serbian market as well as yeast extracts for the food and animal feed industries, Lesaffre said.
"Alltech is pleased to sell this facility to a family group recognised internationally for its professionalism and the quality of its products and services," the CEO of the US company, Alric Blake, noted. "The future of the facility was fundamental in our negotiations. We are convinced that Lesaffre will take this company even further forwards thanks to its expertise in fermentation and fermentation derivatives. It is the perfect company to acquire and drive the business for future growth. Alltech meanwhile will continue to focus on its core activities following unprecedented growth in recent years."
Lesaffre employs 10,000 people in 78 subsidiaries based in 45 countries globally. Its annual turnover amounts to some 2 billion euro ($2.45 billion) and 40% of it is generated on emerging markets, according to data from the corporate website.
($ = 0.8149 euro)