Fermenta Biotech’s US-subsidiary acquires 52 per cent stake in AGD Nutrition
The deal is expected to bring in greater operational capabilities to enhance FBL’s footprint in the US market
Fermenta Biotech, India has announced that its wholly-owned subsidiary Fermenta Biotech USA (FBU), Wilmington, DE, has acquired a 52 per cent stake in a US-based vitamin company, AGD Nutrition LLC (AGD), headquartered in Nacogdoches, Texas. The deal is expected to bring in greater operational capabilities to enhance FBL’s footprint in the US market.
Commenting on the development, Krishna Datla, MD, Fermenta Biotech said, “AGD has been our valued partner for many years, and this strategic investment intensifies our longstanding mutually-beneficial relationship in the North American market. We are confident that this alliance will result in increased customer proximity and reaffirm our commitment towards our clientele as a sustainable partner for their nutritional ingredients’ requirements. We look forward to the opportunities that will emerge from this partnership in way of stronger relationships with customers in the fields of animal nutrition, pharmaceuticals and dietary supplements.”
J Bradley Reynolds, Director, AGD Nutrition commented, “This will be a landmark alliance, where FBL’s technologies and quality product offerings will complement AGD’s relationships with its robust customer base. It marks a milestone in our efforts to achieve sustainable as well as profitable growth and underlines our focus to boost product delivery in the nutritional ingredients segment.”