UK-based animal nutrition group, AB Agri, has acquired AgroKorn, a Danish manufacturer of animal nutrition products, premix, milk replacers and alternative proteins, for an undisclosed sum. AB Agri, which is a subsidiary of Associated British Foods (ABF), says the deal will allow it to bring new generation proteins to the animal feed market.

AB Agri believes there is great potential to develop new customers for some of AgroKorn’s existing feed products, particularly in Asia, Latin America as well as some of its key European markets. AB Agri also sees potential for some of Agrokorn’s premix and milk replacer products, while it also plans to invest in the company’s existing facility in Denmark.

David Yiend, chief executive with AG Agri, said the deal would enable the group to continue on its growth strategy and bring more technically advanced products to the market.

“The expertise and capability of the AB Agri team, allied to AgroKorn's, will accelerate our mission to move agriculture further forward,” added Yiend.

Founded in 1984, AB Agri produces compound feeds and feed co-products for the livestock, aqua and pet sectors and employs more than 3,000 people. The group had sales of more than £1.2bn (€1.6bn) for 2015 and generated operating profits of £60m. AB Agri accounts for almost 10% of total sales for ABF and more than 6% of the multinational’s operating profits.