Provimi was founded near Rotterdam in The Netherlands in 1927, where it started up as a trading company for Dutch farmers. In the thirties it started selling a product under the acronym Provimi, a mixture of 3 basic elements in every animal feed and this is where the present name is derived from: Proteins, Vitamins and Minerals.
In 1971, the American agricultural company Central Soya bought Provimi. It was listed on the New York stock exchange. Non-core activities were subsequently divested and the Group focussed entirely on animal feed in the following period.
In 1988, Central Soya, including Provimi, was taken over by Eridania Béghin-Say, a large French agri-business conglomerate listed on the Paris stock exchange. In the years to follow, Provimi went through a period of internal and worldwide external expansion.
In 1989, Provimi took over its first Polish company, producing complete feed. Provimi is now the number one animal nutrition producer in the country. In the following years, Provimi also achieved a leading position in other Central and eastern European countries.
From 1996 onwards, the Group expanded notably in the pet food and fish feed business, with acquisitions in Denmark, Chile, Spain, the Czech Republic, The Netherlands, Greece and Italy.
Since 1998, the Group reinforced its international position with developments and acquisitions in the USA, South America, China, Vietnam and Australia.
In 2001, the Eridania Béghin-Say Group was demerged into four companies, one of which was Provimi.
In 2002, Provimlux, a holding company jointly controlled by funds advised by CVC Capital Partners and by PAI Management acquired the 53.66% majority shareholding of Provimi. After the subsequent execution of a standing offer, Provimlux held 74.05% of Provimi, which remained listed on Euronext Paris.
In 2003, the Group acquired several more companies in strategic areas and segments, such as complete feed and concentrate producers in Romania and Bulgaria and a pet food producer in The Netherlands. On top of that it closed an asset deal concerning an animal health division in India that serves the dairy segment.
In 2004, it further acquired the premix producer Nutriway in Vietnam, the complete feed producer Rusteco Protein in Bulgaria and the pet food producer Nama in Slovakia.
In 2005, Provimi took over two more pet food producers, Ben in Poland and Pet Hungaria in Hungary, as well as the Russian premix producer Rybflotprom. It also inaugurated a new state-of-the-art plant in Brazil and completed the merge of its Polish subsidiaries Provimi Polska Holding and Rolimpex SA into Provimi-Rolimpex SA.
In 2006, the Group acquired Vita in Canada, another premix producer, and Virtus Nutrition and Nutrius in California, a nutritional supplements and premix/base mix producer respectively. Through its Chilean subsidiary Alitec the Group also signed a joint venture with AquaChile, the world's second largest salmon producer, for the production of salt water fishfeed in Provimi's existing plant in Pargua, Chile. In December, Provimi also acquired the assets of SESA, a private label pet food company in France.
On 30 January 2007, funds managed or advised by Permira signed a share purchase contract through Nutrilux SA with Provimlux Investments SA, a company controlled by funds managed or advised by CVC and PAI. On 12 April, KoroFrance SAS, that subrogated Nutrilux SA in all rights and obligations, then acquired 74.05% of the shares in Provimi SA. Following the transaction KoroFrance SAS filed a public offer (Offre Publique d’Achat Simplifiée) for the remaining shares of Provimi SA. At 30 June 2007, KoroFrance SAS had acquired 87.02% of Provimi’s share capital.
In January 2008, Provimi sold the majority of its aqua feed activities in Chile, Denmark and Spain to Biomar.
In September 2008, Provimi took over Biovet S.A., the leading independent premix producer in the growing and profitable market of Colombia. With this acquisition Provimi further strengthened its position in Latin America.
On 1 October 2009, KoroFrance SAS launched a squeeze-out offer followed by a compulsory squeeze-out (Offre publique de retrait suivie d’un retrait obligatoire), which was closed on 5 November 2009. KoroFrance SAS now owning 100% of Provimi shares, allowed Provimi shares to be delisted from NYSE-Euronext Paris on 6 November 2009.
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