October 24, 2017 / 2:00 PM / in a year

Cargill buys Diamond V to expand animal nutrition business

Oct 24 (Reuters) - Global commodities trader Cargill Inc said it would buy Iowa-based natural animal-feed maker Diamond V to grow its animal nutrition business.

Cargill did not disclose the terms of the deal, which is expected to close in January 2018.

Cargill and its rivals like Archer Daniels Midland Co , Bunge Ltd and Louis Dreyfus Co, known as the ABCD of global grain trading, have been trying to diversify amid a global grains glut that has weighed on margins and dragged profits.

Cargill’s recent push has centered around its proteins business, with expansions in feed production and aquaculture and divestitures of its U.S. pork business and cattle feedlots.

Tuesday’s deal is the third in two months for Minnesota-based Cargill, after it bought a feed mill in Thailand and the animal feed business of Southern States Cooperative.

The deal includes Diamond V’s human health business Embria Health Sciences. (Reporting by Anirban Paul in Bengaluru; Editing by Supriya Kurane)

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