Fermenta Biotech USA, LLC acquires 52% interest in AGD Nutrition LLC

Fermenta Biotech USA, LLC, a wholly owned subsidiary of the Company, has acquired a membership interest in AGD Nutrition, LLC. The wholly-owned subsidiary of the Company viz. Fermenta Biotech USA, LLC (Delaware limited liability company) acquired 52% of the Membership Interest in AGD Nutrition LLC

AGD Nutrition LLC is in the similar line of business as that of the Company and Fermenta Biotech USA, LLC. The main purpose of acquisition is to facilitate exports and enhance Company's footprint in North America.

The aggregate consideration for the purchase of membership interest shall be USD $1,260,500.

AGD Nutrition LLC (AGD) was founded in 2002 and is shaped by professionals who have managed food and pharmaceutical advancements at leading multinational firms. Currently based out of Texas, AGD possesses expertise in animal nutrition, specifically, ingredients for feed applications. It is also a distinct player in the Food and Dietary Supplements domain across North America. Moreover, AGD commands strong relationships with its clientele thus bringing in customer proximity along with a wide distribution network across the continent.

Shares of Fermenta Biotech LTD. was last trading in BSE at Rs.307.25 as compared to the previous close of Rs. 306.7. The total number of shares traded during the day was 34418 in over 458 trades.

The stock hit an intraday high of Rs. 308 and intraday low of 303. The net turnover during the day was Rs. 10541127.

Source : Equity Bulls

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