“Osprey is a great business run by people we deeply respect. This acquisition provides Phibro with new product opportunities and a cutting-edge organization with strong manufacturing capabilities,” said Jack Bendheim, Phibro’s Chairman, President and Chief Executive Officer. “Osprey’s proven and ever-expanding library of microbial strains will serve as an excellent platform for growth within the animal health industry as well as in burgeoning agriculture adjacencies such as seed coatings.”
“We welcome Osprey’s dedicated team of employees to Phibro, and we are thrilled that Osprey’s leadership of Lauren Danielson and Vince Scuilla will continue as leaders of our microbial business as we integrate Osprey into Phibro,” said Larry Miller, Phibro’s Chief Operating Officer. “Our employees share similar values and have a shared vision for working collaboratively with customers to help identify and provide solutions. We value the longstanding strategic relationships Osprey has built with its many customers across multiple industries, and we look forward to continuing to develop and strengthen these partnerships.”
Phibro expects the transaction to be accretive to adjusted EBITDA and adjusted diluted EPS for the fiscal year ending June 30, 2020. Phibro funded the acquisition through its existing credit facilities.
Phibro Animal Health Corporation is a diversified global developer, manufacturer and supplier of a broad range of animal health and mineral nutrition products for livestock, helping veterinarians and farmers produce healthy, affordable food while using fewer natural resources. For further information, please visit www.pahc.com.