0
Novus International, Inc. announced today that it has acquired IQF-ENAMEX and its sister company, Operadora ENAMEX, both based in Córdoba, Mexico from Grupo Porres and other shareholders. IQF- ENAMEX produces feed carotenoid pigments, mineral and vitamin premixes, anti-caking agents and mold inhibitors. Terms of the deal were not disclosed.
IQF-ENAMEX was established in 2001 through a merger with the IQF Group. IQF was established in 1970 and has a customer base extending across more than 60 countries. The acquisition of IQF-ENAMEX enables Novus to expand their product offering for new and existing animal agriculture customers in Mexico and in Latin America.
“Novus has proudly served the animal agriculture market in Mexico for over a decade. We are very excited about this acquisition as it will propel Novus into new market segments which will benefit our new and existing customers,” said Giovanni Gasperoni, Executive Vice-President, Marketing and Sales, Novus International, Inc. “These products are very high quality and they are a natural, complementary extension of our existing product portfolio.”
IQF-ENAMEX’s natural feed additives can be mixed with feed to enhance meat and egg nutrition and color. Feed carotenoid pigments from the acquisition, with their natural antioxidant properties, align with Novus’s feed preservative and dietary antioxidant product families. IQF-ENAMEX is currently active with complementary product lines in the poultry, ruminant and pork markets. Key brands include: Enacol®, Desmycotox®, Enamold®, PMX Vitaminica®, Inclorfos® and Canthacol.®
This is the third acquisition Novus has made in recent months. Novus recently announced the acquisition of IQF Group, which followed its acquisition of the Animal Nutrition Division of Albion Laboratories in December 2009. The acquisition of Albion’s Animal Nutrition Division expanded Novus’s existing chelated trace mineral offering, particularly to the beef and dairy industries.
“Incorporating these new technologies into our existing product base will enable Novus to better serve our customers in Latin America,” explained Thad Simons, President and Chief Executive Officer, Novus International, Inc. “This acquisition is consistent with Novus’s commitment to continuously identify new approaches to improve the health of animals through optimized nutrition and to enhance the business operations of our customers.”
“Grupo Porres has enjoyed an excellent partnership with Novus for more than a decade and this acquisition is a logical and strategic next step,” stated Mr. Oton Porres, IQF-ENAMEX. “We are confident that the complementary aspects of ENAMEX’s and Novus’s cultures and products will provide expanded value for the customers in Mexico and more broadly Latin America.”
May 5, 2010 - Novus International, Inc
