ADF, Rembrandt Enterprises' egg divisions form joint venture
Companies will operate under new entity called IsoNova Technologies LLC
American Dehydrated Foods Inc. (ADF) and Rembrandt Enterprises Inc. (REI) announced the companies have reached an agreement to form a joint venture of their respective egg divisions, which are currently serving the petfood and animal feed industries. The new entity will operate as IsoNova Technologies LLC (IsoNova) and be headquartered in Springfield, Missouri, USA.
"As a company, we have made a long-term commitment to innovation, and this opportunity is in keeping with that commitment" said Kurt Hellweg, CEO, ADF. "By combining the experience and expertise of ADF and REI, we will be able to even better serve our customers through an increased focus on the research, development and manufacture of innovative egg products for the petfood and animal feed industries."
Under terms of the agreement, all ADF associates located in Social Circle, Georgia; Verona, Missouri; Cumming, Georgia; Lillington, North Carolina; Forest, Mississippi; Texarkana, Texas; and Hanceville, Alabama, USA, along with the REI Petcare division associates located in Spencer, Iowa, USA, will become part of IsoNova Technologies on the effective date of the closing, which is January 1, 2014.
"The creation of IsoNova Technologies represents a real win for the employees, customers and communities served today by ADF and REI," said Dave Rettig, CEO, REI. "We feel that in a rapidly changing and increasingly competitive industry, IsoNova will position us for long-term growth and success as we will be able to quickly and efficiently meet the needs of our customers by bringing innovative new products to market even faster than before."
At the completion of the transaction, all current ADF and REI animal and petfood egg customers will become customers of IsoNova Technologies.