US Cargill has announced its intention to purchase Italian animal feed company Raggio di Sole, which has four production facilities across the country.
The acquisition represents an extension of Cargill's already existing animal nutrition business in Italy, building on the present market focus in the dairy segment and creating opportunities in other segments.
Silvio Ferrari, president of Cargill's business in Italy, commented: "We are very excited about the future potential for the combined business. [The takeover] will create a new, nationwide full service offering across the spectrum of animal nutrition customers' needs."
The two companies have complementary expertise and market presence in Italy. The combination adds to the strengths of both, and will enhance the range of products and services to customers, according to Ferrari.
"Customers have to trust their feed suppliers to access the latest research and technology and bring the benefits of experience and resources to the market," said Scott Ainslie, vice president of Cargill's global animal nutrition business.
"Together Cargill and Raggio di Sole will be technologically advanced partners and well positioned to work with customers at all levels of the feed market across Italy."
The president of Raggio di Sole, Luisa Bonati, said: “I am also convinced that our customers will benefit from Cargill's commitment to grow the business."
Cargill in Italy
Cargill has been active in Italy since 1962 and currently employs over 700 people in 11 locations. Its business activities in the country include grain and oilseed trading, animal feed production and sales, sweeteners and starch production and sales, specialty food ingredients, river logistics network, cocoa and chocolate sales, tropical oils sales, flavours and juices.
Privately held Cargill
was founded in 1865 and is an international producer and marketer of food, agricultural, financial and industrial products and services. It employs 131,000 people in 66 countries.
Raggio di Sole
(Sunshine in English) has been in the Italian market since its founding in 1942 as a pharmaceutical company. With over 150 employees across 4 locations in Italy the company makes feed for all livestock species as well as for pet and hobby animals. Raggio di Sole also operates several farm shops throughout Italy. Its daily production is about 2,000 tonnes.