Novus International sells established business units, brands as part of its portfolio alignment efforts
EW Nutrition, a global provider of animal nutrition solutions, announced today that it has acquired the Feed Quality and Pigments business from Novus International Inc. Under the terms of the agreement, EW Nutrition becomes the owner of the Santoquin feed preservative, SURF•ACE feed mill processing aid and Agrado feed ingredient brands. EW Nutrition will also take ownership of a state-of-the-art production facility in Constantí, Spain.
The transaction was closed on February 1, 2021.
“This transaction will bring additional value to our customers, further reinforcing EW Nutrition’s global market position, and increasing its product portfolio and geographical reach,” says Michael Gerrits, managing director of EW Nutrition. “The products acquired will further support EW Nutrition’s mission to mitigate the impact of antimicrobial resistance by providing comprehensive animal nutrition solutions.”
Dan Meagher, president and CEO of Novus International Inc., explained that the sale is part of Novus’s Project Destiny, a multi-year plan to transform the company into the industry’s leading provider in animal health through nutrition solutions by focusing its resources on core platforms and emerging technologies.
“We are pleased to have found a committed owner for these platforms so that they may continue bringing value to the industry,” said Meagher. “This event is a significant milestone in our Project Destiny journey. Now that our Feed Quality and Pigments platforms are in good hands with EW Nutrition, we are excited to focus our energies on developing new, innovative technologies into meaningful nutrition solutions for our customers.”
Launched in 2020, Project Destiny is designed to “help Novus reduce complexity, simplify processes and provide higher autonomy and accountability,” which includes a regional operating model to bring decision-making closer to the customer and additional acquisitions.
During the transition, a robust services agreement between the companies has been established to ensure customer satisfaction.
The financial details of the sale are confidential.