Alltech increases presence in Russia with joint venture
Animal nutrition company Alltech has announced a joint venture move in Russia, which it says will give it increased access to this market.
It announced that it was joining forces DLG Group through a joint venture.
“We are excited about this next step with DLG, which is a very significant player in the agricultural industry,” said Dr. Pearse Lyons, founder and president of Alltech.
“This joint venture will combine DLG’s excellence in premix manufacturing with Alltech’s field-proven nutritional solutions.
“Alltech is pursuing several collaborations in new markets focused on growth,” he continued. “We are very committed to strategic investments, organic growth, collaborative agreements and key acquisitions that secure a stronger business platform to provide forward-thinking animal nutritional solutions and on-farm support to customers across the globe.”
According to Alltech, the joint venture follows a period of close collaboration and negotiations between Alltech and DLG, both of which have business operations across Europe. The companies will hold a 50pc share in the joint venture located in Orenburg, south of the Ural Mountains, in Russia.
“We believe this joint venture with Alltech will ensure that we enhance our presence and increase our strength in the Russian market,” said Kristian Hundeboll, CEO of DLG.
“The synergies created by this cooperation with Alltech will present our customers in Russia with innovative solutions and cutting-edge technologies to maximise their profitability, increase their competitive advantage and improve their feed efficiency."