American Conglomerate Land O’Lakes to Partner In Provision of Kshs1.2 Billion to Nakuru Animal feed firm
Kenya-based edible oils manufacturer Bidco Africa has decided to work together with American conglomerate Land O’Lakes to provide Sh1.2 billion in the upgrade of an animal feed factory in Nakuru.
Land O’Lakes is based in Minnesota and produces animal feed, dairy products and crop seed.
The joint business enterprise expects the plant to have a processing capacity of 28 tonnes per hour, a move that they are hoping that will raise competition in the industry against existing players such as Unga Group.
The multinational company, which is owned by farmers, reported net sales and net earnings of $15 billion (Sh1.5 trillion) and $255 million (Sh26.1 billion) respectively in the year ended December 2018.
The company said that the collaboration will enable them introduce four products, Pro Calf Starter, Pro Heifer Developer, Pig Starter 4-4-4 and Pro Calf Milk replacer into the Kenyan market.
The plant incorporates new technology to test every load of ingredients for quality while ensuring the right mix of nutritional elements.
The plant is expected to create at least 100 jobs.
The Director of Bidco, Chris Daiz said that they are working with 30,000 farmers who supply them with maize, sunflower and soya seeds for processing of oil products.
He added by saying that Once this is extracted, the soya cake, maize germ and sunflower cakes will be used in creating new animal feed products that will be fortified to suit different livestock nutritional needs.
Bidco, with a presence in 18 African markets said the new products will supplement Bidco Feeds brands that are processed at their Thika-based feed mill which has a capacity to process 48,000 tonnes a year.
Check out our GBS TV blog post for more trending news.