Koch Agriculture has completed its acquisition of Purina Mills Inc., a leading producer of animal-nutrition products with annual sales of $1.2 billion. The acquisition marks a growing commitment to agribusiness by Wichita-based Koch Industries Inc., a privately held company with annual revenues in excess of $30 billion whose interests also include oil and gas, transportation, specialty chemicals, and financial services. Wednesday's announcement by the Koch Industries subsidiary did not include an acquisition price. However, Koch acquired all outstanding shares of PM Holdings Corp. common stock and assumed all debt of the company.
According to Dave Abbott, president and CEO of Purina Mills, the company will maintain its identity, culture, checkerboard logo, brands, and trademarks. "Our shared focus is creating greater value and improvements along the total food-production and marketing chain," Abbott said.
Koch Agriculture's own involvement in agribusiness includes animal feed production and distribution, beef production, fertilizer production, and agronomic services. With the acquisition of Purina Mills, it has gained a company that reportedly operates the largest animal-nutrition research facility in the world. In addition, St. Louis-based Purina Mills has 56 plants in 26 states.
