IK will acquire the majority of shares from the founders of Innovad
Innovad, a global supplier of animal health and nutrition solutions, will be acquired by IK Investment Partners through its IK IX Fund. IK will acquire the majority of shares from the founders of Innovad.
“Over the past 10 years, we have built Innovad into one of the leading global feed additives players supporting over 200 customers across more than 65 countries,” said Jamal Al Saifi, majority shareholder and founder of Innovad. “Innovation has been an integral part of Innovad as evidenced by our innovative and solid solutions setting the industry standard for animal health and well-being. Innovation, creativity and solid science is ingrained in our culture and together with the expertise, dedication and commitment of our team it has made the company into what it is today.”
The acquisition has no consequences for the core activities or the other stakeholders of the company. Innovad is supported by ING Bank as M&A adviser and Schoups as legal counsel. Financial details of the transaction will not be disclosed.
IK will also acquire Add-Co Nutrition in Italy and Add-Essens, which is specialized in the extraction of plant/fruit-based ingredients. After the transaction, Jamal Al Saifi, founder and majority shareholder, will retire from the business and will hand over to Ben Letor, fellow co-founder, who will become the new CEO of Innovad Group.
“By integrating into Innovad Group, our scope of opportunities will undoubtedly expand, bringing our natural pigment technology to a much larger customer base across the world,” said Massimo Neri, co-founder of Add-Co. “In addition, the combination of our nutritional services knowledge and experience will greatly contribute to the development of new innovative solutions for our customers.”
“It is exciting to be partnering with IK as we enter this next phase and as we consolidate our various businesses and prepare for further sustainable growth,” said Ben Letor, co-founder of Innovad and incoming CEO. “With their strong credentials and past successes in food and animal health, and Innovad’s established track records, ambition and dedicated team, we look forward to working together to develop Innovad Group into a global leader.”