NICHOLASVILLE, Ky. — Alltech will soon be acquiring Masterfeeds, a leading Canadian animal nutrition company. Through the deal, Alltech stated it will purchase 100 percent of the outstanding shares of Masterfeeds, Inc. from Ag Processing, Inc., the current majority owner of Masterfeeds.

The acquisition is Alltech’s 14th since 2011 and its second major purchase of this year following that of Ridley, Inc. in April. "This is a crucial time in agriculture, and Canadian farmers are facing ever-increasing pressures, including the continued drive to produce more with fewer resources," said Dr. Pearse Lyons, founder and president of Alltech. "Masterfeeds provides the on-farm support that is critical to Canada’s farmers and ranchers. This new opportunity will enable more efficient delivery of superior animal nutrition and tailored feeding programs."

Founded in 1980, Alltech has more than tripled its sales in the last three years and is on target to achieve $4 billion in the next few years. This is the Nicholasville, Ky.-based company’s second procurement of a company headquartered in Canada, following its success in acquiring EMF Nutrition two years ago.

"I am confident that Masterfeeds’ future is bright under the ownership of Alltech," said Rob Flack, president and CEO of Masterfeeds. "Alltech’s investment strategy is unfolding in exciting ways.

"Masterfeeds’ proven on-farm feeding solutions will be strengthened through proprietary Alltech nutrition technology, adding further value to our customers throughout Canada. Our growth strategies will continue to be supported, creating opportunities both in Canada and abroad for our family of employees."

Masterfeeds will continue to be headquartered in London, Ontario, and led by Flack. It has more than 500 employees, operating 18 feed manufacturing and premix facilities and three retail stores throughout Alberta, Saskatchewan, Quebec, Ontario and Manitoba.

Alltech’s own entity, Alltech Canada, will remain headquartered in Guelph, Ontario. After the acquisition, Alltech will have a presence in 128 countries with more than 4,700 employees worldwide.