New York, New York, USA
January 24, 2012
TRANSACTION DESCRIPTION
AgriCapital Corporation, New York, New York advised The Old Mill-Troy, North Troy, Vermont on the sale of substantially all its assets to Nutra Blend, a subsidiary of Land O’ Lakes, Arden Hills, Minnesota.
TRANSACTION HIGHLIGHTS
The Old Mill Troy’s owners retained AgriCapital to advise them as they sought to review their strategic alternatives and best position the company for future growth. AgriCapital helped The Old Mill-Troy review a number of opportunities via a comprehensive sale process whereby Land O’ Lakes was deemed the best company to fulfill their goals and objectives.
LAND O’ LAKES PRESS RELEASE
Land O’Lakes Announces Old Mill-Troy, Inc., Acquisition by Nutra Blend
Land O’Lakes announced that Nutra Blend is acquiring substantially all of the assets of ingredient supplier The Old Mill-Troy, Inc. (OMT), based in North Troy, VT.
OMT is a respected regional premix blender and distributor of micro-ingredients and specialty ingredients, and offers a broad range of bagged, super sacked and bulk products for the feed industry. As part of the acquisition, Land O’Lakes Purina Feed’s Nutra Blend business, a distributor and manufacturer of quality micro-ingredients for the feed industry, will acquire or lease a blending facility in Vermont, and several warehouses in New York, Ohio, and Pennsylvania.
“Acquiring OMT’s business presented an attractive opportunity for us, in part, because it has limited overlap with our Nutra Blend premix customers and OMT has a strong reputation in the Northeast,” said Dave Hoogmoed, Executive Vice President and COO of the Feed business.
OMT’s range of products includes custom premixes, macro and trace minerals, vitamins, buffers, yeast culture, urea, amino acids, milk replacers, mold inhibitors and private label products.
“This acquisition will give the Nutra Blend business expanded access to the Northeast, as well as facilitating our national distribution system. This expanded footprint will allow us to increase our service and offerings to our customers and vendors,” Hoogmoed added.
“We are very pleased to have worked with The Old Mill-Troy, Nutra Blend and Land O’ Lakes on this transaction,” said Doug Sterkel, AgriCapital Managing Director. “We believe this transaction will allow the principals of the Company to fulfill their objectives while at the same time allowing Land O’ Lakes a strong point of expansion in a strategic dairy production region.”
For more information, visit Nutra Blend’s website at www.nutrablend.net. For more information about Land O’Lakes, Inc., visit www.landolakesinc.com,
AgriCapital is a specialized investment bank focused on providing advice on agribusinesses mergers and acquisitions, private placements and corporate finance consulting. Since 1983, AgriCapital has advised over 450 agribusinesses throughout the world.
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