AFB International acquires NuPetraSt. Charles, MO, September 6, 2006
In another sign of its commitment to the pet food palatant industry and the advancement of palatability technology, AFB International, Inc. ("AFB") announced today that it has signed a final purchase agreement to acquire NutriScience Technologies Inc.'s ("NST") pet food palatant business, NuPetra LLC ("NuPetra"), and NST's research and product development capabilities, NuSci Laboratories LLC ("NuSci"). The terms of the transaction were not released.
The name of the combined company will be AFB International, and NuPetra’s brand, BioFlavor, will continue under the AFB International corporate flag.
"By combining our mutual strengths in technology and supply chain management, we will be better able to deliver the finest broad-base of products and services—with the greatest focus on customer service and satisfaction—of anyone in the industry," said AFB Chief Executive Officer Jacquelyn A. Levin. "With our collective strength in product development, technical service and customer service, we are confident that we will establish a more integrated understanding of the needs of our customers and deliver the best solution."
The benefits of this acquisition to the customers of the combined company are many. A broader range of products, increased production capacity, expanded research and product development capabilities, and a stronger portfolio of technical services will all serve to help AFB tailor its products, services and solutions to better meet the unique challenges of its customers.
The new company's combined research and product development capabilities will also allow it to focus on a broader spectrum of palatant-related scientific inquiry. Bringing shared intellectual property and know-how to address the demands of the market will translate into more new products and enhanced process technology.
"A wider range of palatants and services will allow the new company to offer customers a greater choice of solutions," said Ms. Levin. "Over time, we will have the opportunity to optimize our product offerings, keeping the best of each product class while constantly working on improving them." Jacquelyn A. Levin will remain the CEO of the new combined company. An integration team comprised of representatives from both organizations is already at work to ensure a smooth transition.
AFB International is a science and technology-based leader in pet food palatability. Founded in 1986, AFB has grown to be a worldwide leader in pet food palatability technology. Throughout its history, it has adapted superior scientific approaches and advanced technology to help its customers maximize pet food performance, and ultimately grow market share. AFB's sales team operates from offices in Missouri and California (servicing the Asia Pacific Markets), as well as Europe and Latin America where it also has production facilities serving global key accounts. The new company will remain a whollyowned subsidiary of Ensign-Bickford Industries.
NST is a wholly-owned subsidiary of Mitsui & Co. (U.S.A.), Inc. NST's network of companies has manufacturing operations in the U.S. and Australia, with research facilities in the U.S. Each of the companies that make up NST is committed to providing innovative animal production and companion animal products throughout the world. NuPetra is a leader developer, manufacturer, and worldwide marketer of BioFlavor brand pet food palatants. NuSci is an animal performance research and product development company currently serving the needs of NST subsidiaries.
NST's network of companies also includes Virtus Nutrition LLC, a leading marketer of nutritional dairy feed ingredients and products, and Nutrius LLC, a manufacturer of vitamin and mineral based supplements and premixes for livestock, poultry and companion animals. Neither of these companies is being acquired by AFB.
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