Alltech has reached an agreement to add the Irish farming solutions company Keenan to its mix, which will serve as the Nicholasville, Kentucky-based firm's 14th acquisition globally since 2011.
“As an Irishman, I am delighted to welcome Keenan to our family, because together we can deliver greater value to our global farming customers with a wider variety of technological solutions,” said Dr. Pearse Lyons, founder and president of Alltech, in a release on the acquisition. “Between Alltech’s primacy in science and Keenan’s manufacturing strength and technological know-how, we have a winning combination for delivering greater farm efficiency and profitability direct to our farming customers.”
Keenan specializes in the manufacture of farm feeding systems, including its farm mixer wagon, known as the “green machine.” Possible growth opportunities identified by the two companies include nutritional technologies and feeding programs focused on feed efficiency and herd health as well as advanced ration formulation.
Keenan had recently suffered significant financial losses and had been placed in receivership earlier this month, according to reports from industry trade publications. The company will continue to be headquartered in Borris, Co. Carlow, Ireland. Together, Alltech and Keenan employ nearly 300 people in Ireland and close to 5,000 globally.