Tetra AgriGroup Inc and DFS Inc announced on Jan. 19 they have reached an agreement for DFS Inc. to purchase substantially all of Tetra’s feed production and grain assets. Terms of the agreement were not disclosed.
The transaction involves feed production capabilities of 250,000 tons per year, currently owned by Nutri Tech Feeds LLC, as well as 5.85mm bushels of grain storage owned by Quad County Grain Inc, all located at Oskaloosa, Iowa. Representatives of Tetra and DFS called the deal a logical fit given the similarities in operating philosophies and values of the two organizations.
“We are very pleased to announce we have reached agreement with DFS to buy our feed and grain assets,” Tetra Chairman Jim Wake said. “With DFS’s 40+ years of experience, solid value system and reputation for delivering great value to customers, our employees can be assured that DFS will continue to build and grow the business here in Oskaloosa.”
“We feel extremely blessed with the opportunity to continue the legacy began by the Wake Family over 94 years ago and are honored that Jim and Jayne would entrust us with this business,” DFS President Dave Kier said. “
Once the transaction closes in early March, DFS will be approaching an annual production rate of 1 million tons per year and will rank as the eighth largest commercial feed manufacturer in the United States.
DFS Inc. is a commercial feed manufacturer headquartered in Newell, Iowa. As a family owned business, they have over 40 years of experience in bringing high quality nutrition to both the swine and turkey production segments. DFS has been growing at an aggressive pace and continues to implement sound expansion strategies in both feed production and NIR based analytical tools to enhance the value proposition to customers. DFS also has a significant ingredient purchasing and risk management capability within its wholly owned subsidiary, Market 1 with offices in Johnston, Harlan and Newell Iowa.