Phibro Animal Health Corp., a Teaneck-based developer of animal health and nutrition, announced Friday it has acquired Osprey Biotechnics Inc., a Sarasota, Florida-based developer of microbial products.
The acquisition will help strengthen Philbro’s portfolio of nutritional products and will provide new opportunities for the company in the animal health industry, it said.
“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,” Jack Bendheim, chairman, CEO and president, Philbro, said. “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.”
Financial terms of the deal were not disclosed.
“We are excited to join the Phibro family,” Lauren Danielson, CEO of Osprey, said. “Partnering with Phibro opens up even more opportunities for our business, as it allows us to leverage Phibro’s proven expertise in nutritional specialty products that help improve animal health, productivity and profitability. We are also excited about the ability to scale our fermentation capacity, utilizing Phibro’s current footprint, to further service our customers. The value of this transaction is a testament to the highly skilled, innovative and hard-working people of Osprey.”