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Ag Processing sells its 70 percent interest in Masterfeeds

Ag Processing sells its 70 percent interest in Masterfeeds

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Ag Processing Inc. of Omaha said Tuesday that it has agreed to sell its 70 percent interest in Masterfeeds Inc. to Alltech, an animal nutrition and health company. Alltech recently acquired Ridley Inc., which owns 30 percent of Masterfeeds LP, the operating subsidiary of Masterfeeds Inc. of London, Ontario.

Keith Spackler, chief executive of Ag Processing, said Masterfeeds had been part of Ag Processing since 1991.

He said Ag Processing would invest the sale proceeds, which were not disclosed, in new opportunities after the deal closes before the end of this year.

Alltech is based in Nicholasville, Kentucky. Ridley is based in Mankato, Minnesota.

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