Cargill beats off Chinese competition to land Provimi
Cargill, the world’s largest agricultural commodities trader, will acquire Netherlands-based animal feed company Provimi from private equity firm Permira for an enterprise value of EUR1.5 billion ($2.1 billion). China’s New Hope Group was among the bidders to lose out, The Financial Times reported.
Cargill plans to fund the purchase through a combination of debt and equity. Cargill and Provimi said the complementary nature of their respective markets and product lines was crucial in securing the...
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