Church & Dwight has acquired Agro BioSciences Inc. for $75 million plus a contingent payment of up to an additional $25 million based on business performance.
Agro BioSciences is a microbial biotechnology company with an innovative platform to provide novel, science-based products for animal and agricultural production. Using proprietary techniques and functional genomics, Agro BioSciences identifies the distinct and beneficial bacteria within the Microbial Terroir to improve animal and agricultural productivity. Annual sales are approximately $11 million. The business is expected to grow rapidly to meet the growing demand for probiotic products to maintain the health and productivity of animals in an antibiotic-free environment.
Agro BioSciences was founded in 2013 and has experienced rapid growth to about 40 employees.
New Jersey-based Church & Dwight has annual revenue of $3.5 billion, and its animal productivity business has sales of about $11 million.
