Cargill will acquire the animal feed business of Richmond, Va.,-based Southern States Cooperative, Inc.
The transaction is expected to close within 90 days, subject to customary approvals. Terms of the deal were not disclosed.
This acquisition will help Cargill better serve its customers in the eastern U.S., and it’s an important part of Cargill Feed and Nutrition's growth strategy.
Under the agreement, Cargill will purchase the assets of Southern States Cooperative's animal feed business, including seven feed mills and portfolio of products, brands and customer and supplier relationships.
"It's important to note that while Southern States will no longer be making feed, we are committed as ever to provide feed to our members and customers. We're excited about the opportunities this partnership will bring to all stakeholders as we work together to grow the feed business in our marketplace,” says Jeff Stroburg, president and CEO of Southern States Cooperative.