Zinpro, which is privately held, expects to close the two acquisitions by November 1.
Bill Scrimgeour, CEO of Zinpro, told FeedNavigator that PSP and CouvLotta are growing and profitable businesses.
He said the two firms bring product diversification to the table, providing a portfolio of products and nutritional approaches than the Minnesota based company had traditionally not been able to offer its customers.
“Zinpro’s emphasis is to provide products and services that benefit the livestock industry. These acquisitions complement our strategy to provide nutritional support through combinations of various ingredients.
“The ability to provide additional nutrition solutions through on-farm water sources provides us opportunities to support our customer through multiple avenues on their farms.”
PSP and CouvLotta also have strong industry connections, giving Zinpro new channels and customers, continued the CEO.
Prior to the acquisition agreement, PSP and CouvLotta had already incorporated Zinpro’s trace minerals into some of their products:
“Where it makes sense to incorporate our performance trace minerals into more of their products, we will do so,” said Scrimgeour.
He said the pressure on livestock production sector is at historic levels, with economic conditions putting tremendous strain on farming operations across the globe, forcing producers to look to new ways of keeping a lid on costs.
“We believe it is important during these conditions to continue working to offer our customers additional [products] that make their businesses more profitable.”
Zinpro said that both PSP and CouvLotta, which were also both family-owned and privately held, would continue to be based and operated from their current locations. The existing management will also stay on.
The financial terms and conditions of the two deals were not disclosed.