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New Deal


Announced

LIC to acquire a 50% stake in Afimilk for $70m.

Financials

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Transaction Value£53m
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Friendly

dairy farms

IT Services: Other

Private

Single Bidder

Private Equity

computerized systems

Acquisition

Pending

Israel

Cross Border

Synopsis

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Livestock Improvement, a multinational farmer-owned co-operative, offered to acquire a 50% stake in Afimilk, a provider of advanced computerized systems for the modern dairy farm and for herd management, for $70m. Afimilk’s current shareholders are Kibbutz Afikim and Fortissimo. LIC Chair Murray King says the investment will help give LIC access to the data it needs to deliver superior herd improvement services and agri-tech for New Zealand farmers into the future and will improve access to onfarm technology solutions.

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