The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry
Butterfly Equity’s Actus Nutrition, a vertically-integrated nutritional ingredients manufacturer, has finalised an agreement to purchase a 99,000-square-foot processing facility from Foremost Farms USA.
Actus will continue to manufacture whey protein products at the facility in Sparta, Wisconsin, following significant investment to increase capacity and expand its capabilities. As part of the deal, Actus and Foremost Farms will begin a long-term whey protein partnership supporting growth for both companies.
Actus Nutrition’s CEO, David Lenzmeier, said: “We’ll be able to hit the ground running because we can plug the Sparta facility into our existing network without a lot of changes. The facility will provide added capacity that will help us better meet the insatiable global demand for whey protein, while further positioning Actus to meet the needs of our existing customers.”
The Sparta location will become Actus’ seventh manufacturing facility in Wisconsin. The company also operates sites in Minnesota, Nebraska, California, Idaho and Illinois. Actus plans to extend offers of employment to the current team members as part of the deal. Additional hiring is anticipated to support operational needs and future growth.
Declan Roche, chief commercial officer for Foremost Farms USA, commented: “Foremost Farms and Actus have a strong relationship that goes back many years and this extends our partnership in new directions. This scenario creates a win-win, enabling Foremost Farms to streamline its operations while continuing to maximise value for the cooperative members through a long-term strategic partner.”
Joel Eigenbrood, chairman of the board of directors for Foremost Farms, added: “We are pleased that this sale will allow Foremost Farms to continue to focus on its core business. We appreciate the contributions made by our Sparta employees and we look forward to working with Actus to create more value for our patron farmers.”
The parties expect to close the acquisition before the end of May.