Cargill Announces Its Intention to Purchase Raggio di Sole S.p.A Animal Nutrition Business in Italy

News provided by

Jun 09, 2011, 08:00 ET

MILAN, June 9, 2011 /PRNewswire/ -- Cargill has announced its intention to purchase Raggio di Sole S.p.A, a significant Italian animal feed company. Raggio di Sole S.p.A has a well known and respected brand and a wide portfolio of products, sold through an impressive sales force and network, and has four production facilities across the country.

The acquisition represents a natural extension of Cargill's animal nutrition business in Italy, as it will build on an existing market focus in the dairy segment and create opportunities in other segments. It will enhance Cargill's ability to deliver feed solutions to customers in the exciting, growing retail segment.

Silvio Ferrari, president of Cargill's business in Italy, commented: "We are very excited about the future potential for the combined business. Bringing together the committed, knowledgeable and experienced Raggio di Sole S.p.A workforce - along with their strong customer relationships - with Cargill's existing resources and capabilities will create a new, nationwide full service offering across the spectrum of animal nutrition customers' needs."

There is a natural cultural fit between the two companies. Both have a long tradition of excellence in the Italian market, with respected, high quality brands, an absolute commitment to the highest levels of product quality and innovation and a core focus on customer relationships and service.

Ferrari continued: "This announcement further demonstrates Cargill's commitment to expanding its animal nutrition business in Italy. We have been active in the country for almost 50 years and will be delighted to add Raggio di Sole S.p.A to our portfolio."

The two companies have complementary expertise and market presence in Italy. The combination adds to the strengths of both, and will enhance the range of products and services to customers.

"Customers have to trust their feed suppliers to access the latest research and technology and bring the benefits of experience and resources to the market," said Scott Ainslie, vice president of Cargill's global animal nutrition business. "Together Cargill and Raggio di Sole S.p.A will be technologically advanced partners and well positioned to work with customers at all levels of the feed market across Italy."

The president of Raggio di Sole S.p.A, Luisa Bonati, said: "I am delighted for our company to be in such good hands in the future. We have worked hard to build Raggio di Sole S.p.A into the company it is today, and I am confident that together with Cargill, our dedicated, professional team will continue their commitment to quality and excellence. I am also convinced that our customers will benefit from Cargill's commitment to grow the business."

The deal is subject to regulatory approval.

Notes for editors:

Cargill

Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 131,000 people in 66 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to sharing its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business.

For more information, visit http://www.cargill.com.

Cargill in Italy

Cargill has been active in Italy since 1962 and currently employs over 700 people in 11 locations. Its business activities in the country include grain and oilseed trading, animal feed production and sales, sweeteners and starch production and sales, specialty food ingredients (including flavours and texturizers), river logistics network, cocoa and chocolate sales, tropical oils sales, flavours and juices.

For more information, visit http://www.cargill.it

Cargill Animal Nutrition

Cargill has a long history in the animal nutrition business, dating back to feed sales in 1884. The company currently has animal feed operations in 23 countries worldwide. In Europe Cargill has animal nutrition businesses in Italy, Switzerland, Romania, Russia, Hungary, Ukraine, Poland and the Netherlands.

For more information, visit http://www.cargillanimalnutrition.com

Raggio di Sole S.p.A

Raggio di Sole S.p.A has been a national leader in the Italian market since its founding in 1942. With over 150 employees across 4 locations in Italy. Raggio di Sole's professionalism, technological innovation, and quality are recognized in the animal feed sector, both for commercial and domestic/pet/hobby animals.

For more information, visit http://www.raggiodisole.biz/

SOURCE Cargill