ADM announces it has completed the acquisition of the remaining 40% shareholding of Invivo Sanpo, a pet nutrition company located in Tianjin, China.
In 2017, Invivo Sanpo became a joint venture between ADM and Tianjin Jinkangbao to produce and offer best-in-class pet nutrition products and solutions for customers in China. The acquisition will give ADM 100% ownership of Invivo Sanpo.
“Annual global sales of pet food total US$110 billion currently, forecast to grow to US$140 billion by 2026 (Euromonitor, 2021). The industry in China and Asia Pacific especially, have seen rapid growth and development in recent years,” said Jorge Martinez, president, ADM Pet Solutions. “Assuming full ownership of Invivo Sanpo will not only allow us to introduce some of our more premium pet nutrition brands in China to better serve a wider range of customer segments but also allow us to leverage on our ADM innovation capabilities bringing innovative solutions to our customers.”
ADM Animal Nutrition began its growth plans with the acquisition of Crosswinds in 2017, followed by global platform Neovia in 2019. In September 2021, ADM continued this strategic journey with the acquisition of a majority stake in the P4 Companies (PetDine, Pedigree Ovens, The Pound Bakery and NutraDine) in the U.S. The Invivo Sanpo transaction will be an important building block that will support ADM in its expansion across Asia Pacific.
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.