Marking the serving of one million meals to pets in need, VCA Charities and Hill’s Pet Nutrition celebrated the major milestone in their five-year partnership at the St. Joseph’s Center in Venice, California, USA, where the pet food assistance partnership began in 2010.
The partnership with Hill’s helps support the VCA Pet Food Pantry program, initiated by VCA Charities five years ago to provide pet food to pet parents stricken by the economic downturn. At that time, an increasing number of pets were being taken to animal hospitals for euthanasia or abandoned when their owners could no longer bear the cost of caring for them.
Since that time, the VCA Pet Food Pantry program has expanded to more than 20 locations throughout the United States and Canada, providing free pet food to clients of existing food pantries.
“We started the Pet Food Pantry program to provide healthy, nutritious pet food to families who could not otherwise afford it in the local communities we serve,” said Art Antin, chief operating officer for VCA Animal Hospitals. “By providing these one million free meals, we have helped many families in need hold on to the loving and comforting bond their pets provide.”
St. Joseph Center’s Executive Director Dr. Va Lecia Adams Kellum said: “The Food Pantry is the primary gateway to St. Joseph Center's efforts to help working poor families achieve and maintain stability as they make their way toward lasting self-sufficiency. With the VCA Pet Food Pantry on-site, our families don’t have the additional burden of worrying how they will be able to feed their companion animals.”
Working with VCA Charities, Hill’s Pet Nutrition, the maker of the Science Diet, Prescription Diet and Ideal Balance brands, currently donates premium pet food to more than half of the VCA Pet Food Pantries across the US, and has made a commitment to expand the current partnership by supporting additional pet food pantries with pet food donations over the next few years.
“Our mission at Hill’s is to help enrich and lengthen the special relationships between people and their pets,” said Kostas Kontopanos, president of Hill’s Pet Nutrition, North America. “We want to help transform lives, and this partnership with VCA Charities allows us to do that by keeping a pet with its family during a time of need when its unconditional love is most needed.”
In furthering its mission, Hill’s has a long-standing history of helping pets in need through its Food, Shelter & Love program, which has donated more than $280 million worth of Hill’s Science Diet brand foods to more than 1,000 shelters in the U.S.
Hill’s also comes to the aid of communities impacted by disaster. In the past two years, the Hill’s Disaster Relief Network has delivered free pet food to 60 shelters and veterinary clinics across the country in response to 25 major incidents to feed displaced pets.
VCA Charities continues to support programs, organizations, and causes that promote pet healthcare education, proactive veterinary care, proper pet nutrition, and prevention of cruelty to animals. In furthering its mission, VCA Charities partners with the American Red Cross in their Disaster Relief Network, and provides free exams, boarding, and vaccinations for pets displaced or injured during a disaster or emergency.
Alltech will acquire 100 percent of the outstanding stock of Ridley Inc. for CAD$40.75 (US$33.57) per share. The total consideration payable to Ridley shareholders is approximately CAD$521 million (US$429.2 million).
The price of CAD$40.75 per share represents a premium of approximately 23 percent to the 20-day volume weighted average price of Ridley’s common shares on the TSX as of April 22, 2015. The closing price of the Ridley shares on the TSX on April 22, 2015, was CAD $33.94. The boards of directors of both companies have unanimously approved the merger.
“This transformative transaction that combines two industry leaders allows Alltech to deliver better performance and value to livestock and poultry producers across the globe,” said Dr. Pearse Lyons, founder and president of Alltech. “With Ridley’s leading animal nutrition supplements, block products, extensive livestock and poultry producer distribution network and on-farm presence, we will be able to bring our advanced nutrition technology to market faster and more effectively. This combination creates a new model to deliver superior animal nutrition and tailored feeding programs supported by robust scientific research and data analytics. This deal underscores our continued momentum in growing our business through strategic acquisitions of best-in-class companies with trusted technology and brand recognition.”
“Joining Ridley with Alltech is about bringing the best nutrition solutions to meat, milk and egg producers around the world,” said Steven J. VanRoekel, president and CEO of Ridley. “Alltech is the technological leader with a broad global footprint so by uniting forces we will create a scalable platform to grow and market solutions to enhance the profitability of producers. We are also joining a financially strong company that is committed to investing in science and innovation so that we can deliver the most advanced animal nutrition solutions.”
Ridley is one of the largest commercial animal nutrition businesses in North America. Ridley manufactures and markets a full range of animal nutrition solutions, including formulated complete feeds, premixes, feed supplements, block supplements, animal health products and feed ingredients. Ridley’s customers include livestock producers as well as equine and pet breeders. Ridley’s products are sold to producers by direct sales or through distributor and dealer channels.
Both companies are industry leaders committed to investing in sustainable nutrition solutions and advanced feeding programs that optimize physical and financial performance on farms, leading to increased efficiency and value. Alltech spends approximately 10 percent of its gross revenue on research and development, more than any other company in the industry. Ridley has a strong technical team with more than 40 advanced degree staff who have produced some of the industry’s best-selling and most widely recognized blocks and nutrition supplements and will now be working side by side with Alltech’s team of approximately 150 Ph.D.s. This deal will further enhance Alltech’s primacy in science and allow it to deliver this to a broader range of livestock and poultry producers in the US and bring more advanced animal nutrition solutions to countries across the globe.
Improved animal nutrition is a pressing need for the productivity of the world’s livestock and food chain. Feed costs comprise the majority of livestock production costs. By improving nutrition, livestock and poultry producers are able to realize a significant increase in efficiencies and return on investment. Alltech’s continued commitment to tailoring nutrition and health programs with a focus on natural, antibiotic-free ingredients allows livestock and poultry producers to raise healthier animals through a process that is better for animals, consumers and the environment.
The combined company will have a presence in more than 128 countries and 4,200 employees worldwide. Alltech has more than doubled its sales in the past three years and is on target to achieve US$4 billion in sales in the next few years.
The transaction is subject to approval by Ridley shareholders, regulatory review and other customary closing conditions. The transaction is expected to close by the end of the second quarter.
Alltech has established a track record of successful acquisitions, having completed seven since 2011.
The price of CAD$40.75 per share represents a premium of approximately 23 percent to the 20-day volume weighted average price of Ridley’s common shares on the TSX as of April 22, 2015. The closing price of the Ridley shares on the TSX on April 22, 2015, was CAD $33.94. The boards of directors of both companies have unanimously approved the merger.
“This transformative transaction that combines two industry leaders allows Alltech to deliver better performance and value to livestock and poultry producers across the globe,” said Dr. Pearse Lyons, founder and president of Alltech. “With Ridley’s leading animal nutrition supplements, block products, extensive livestock and poultry producer distribution network and on-farm presence, we will be able to bring our advanced nutrition technology to market faster and more effectively. This combination creates a new model to deliver superior animal nutrition and tailored feeding programs supported by robust scientific research and data analytics. This deal underscores our continued momentum in growing our business through strategic acquisitions of best-in-class companies with trusted technology and brand recognition.”
“Joining Ridley with Alltech is about bringing the best nutrition solutions to meat, milk and egg producers around the world,” said Steven J. VanRoekel, president and CEO of Ridley. “Alltech is the technological leader with a broad global footprint so by uniting forces we will create a scalable platform to grow and market solutions to enhance the profitability of producers. We are also joining a financially strong company that is committed to investing in science and innovation so that we can deliver the most advanced animal nutrition solutions.”
Ridley is one of the largest commercial animal nutrition businesses in North America. Ridley manufactures and markets a full range of animal nutrition solutions, including formulated complete feeds, premixes, feed supplements, block supplements, animal health products and feed ingredients. Ridley’s customers include livestock producers as well as equine and pet breeders. Ridley’s products are sold to producers by direct sales or through distributor and dealer channels.
Both companies are industry leaders committed to investing in sustainable nutrition solutions and advanced feeding programs that optimize physical and financial performance on farms, leading to increased efficiency and value. Alltech spends approximately 10 percent of its gross revenue on research and development, more than any other company in the industry. Ridley has a strong technical team with more than 40 advanced degree staff who have produced some of the industry’s best-selling and most widely recognized blocks and nutrition supplements and will now be working side by side with Alltech’s team of approximately 150 Ph.D.s. This deal will further enhance Alltech’s primacy in science and allow it to deliver this to a broader range of livestock and poultry producers in the US and bring more advanced animal nutrition solutions to countries across the globe.
Improved animal nutrition is a pressing need for the productivity of the world’s livestock and food chain. Feed costs comprise the majority of livestock production costs. By improving nutrition, livestock and poultry producers are able to realize a significant increase in efficiencies and return on investment. Alltech’s continued commitment to tailoring nutrition and health programs with a focus on natural, antibiotic-free ingredients allows livestock and poultry producers to raise healthier animals through a process that is better for animals, consumers and the environment.
The combined company will have a presence in more than 128 countries and 4,200 employees worldwide. Alltech has more than doubled its sales in the past three years and is on target to achieve US$4 billion in sales in the next few years.
The transaction is subject to approval by Ridley shareholders, regulatory review and other customary closing conditions. The transaction is expected to close by the end of the second quarter.
Alltech has established a track record of successful acquisitions, having completed seven since 2011.