CHICAGO, June 27, 2023 (GLOBE NEWSWIRE) -- Amlan® International, the animal nutrition and health business of Oil-Dri® Corporation of America (NYSE: ODC), a global leader in mineral science for over 80 years, is pleased to announce the completion of its acquisition of the remaining non-controlling interest of Agromex Importaciones, S.A. de C.V. on May 12, 2023. Amlan now holds 100% ownership of its subsidiary in Mexico, further solidifying its position in the Mexican market.
Oil-Dri initially acquired a majority share in Agromex Importaciones in 2018, establishing a presence in Mexico's animal health industry. Building on this successful partnership, Amlan has taken this strategic step to instill confidence in their customers and leverage the full potential of Agromex to accelerate its growth in the region. This ownership structure reinforces Amlan's commitment to providing the market with the highest standards of operational excellence as a reliable partner in animal production, offering proven products and superior technical service.
With this acquisition, Agromex will benefit from the leadership of a new Board of Directors consisting of industry experts and seasoned professionals. Dr. Wade Robey, President, Amlan International, and Vice President of Agriculture, Oil-Dri Corporation of America has been appointed as the Chairman of the Board. Dr. Robin Jarquin, Regional Director Latin America, will oversee the operations of Agromex, ensuring a seamless transition and continued success of the subsidiary.
"The poultry industry in Mexico is significant with approximately 46 million broilers processed weekly. Although a substantial portion of the poultry industry in Mexico already uses mycotoxin binders, tremendous growth is still possible. With rising feed prices, at times uncertain grain quality, and the consumers' desire to remove antibiotics when possible, the products in our portfolio can deliver real value to producers. With this recent change of Agromex's ownership and sales strategy, we expect to grow Amlan's business in Mexico rapidly over the next three years," said Dr. Robin Jarquin.
Agromex will maintain its core focus on selling Amlan's portfolio of innovative feed additives including Varium® and NeoPrime®, our patented formulations designed to promote efficiency for poultry and swine; Phylox®, a natural alternative to anticoccidial drugs and vaccines; Calibrin® -Z to defend against a broad spectrum of biotoxins; and Calibrin® -A to rapidly bind aflatoxin. By leveraging mineral technology, our products optimize intestinal health to help enhance animal performance, productivity, and overall well-being.
"We are excited about the prospects this acquisition brings and are eager to further strengthen the relationship with our customers in Mexico," said Heath Wessels, Vice President of Sales, the Americas. The combined expertise and resources of Amlan, Oil-Dri and Agromex will contribute to the continued success and growth of our business in Mexico.
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