FREEPORT, ILLINOIS, USA – Easy USA Holdings Inc. has acquired Furst-McNess Co., which markets, among other things, feed ingredients, commodities, wet brewing grains and specialty foods in the United States and Canada.
Financial terms of the transaction were not disclosed.
Easy USA Holdings Inc., based in Oskaloosa, Iowa, United States, is a subsidiary of Easy Holdings Company, Ltd., based in Seoul, Korea.
Furst-McNess said he plans to realize new growth opportunities through another subsidiary of Easy Holdings called Easy Bio Inc. (Easy Bio), which supplies food additives and specialty foods to more than 30 countries.
âWe are a ‘hands off’ type of owner and are here to help Furst-McNess expand their product offerings and distribution, both in North America and internationally,â said Stevenson Hwang, CEO of ‘Easy USA. âFurst-McNess is a well-respected brand built on more than a century of strong business capabilities, unique skills and active corporate values. We look forward to learning from this, working with so many talented people, and supporting the company for further growth. “
Eddie Wells, President of Furst-McNess, added: âEasy USA provides Furst-McNess with significant international distribution channels, financial resources and a new range of ingredients and products that we can now offer in North America. . Conversely, McNess gives Easy USA a substantial presence in the American animal nutrition industry from which it can now develop. Perhaps best of all, the two companies have strong values ââand corporate cultures that complement each other. When it comes to mergers, it’s a perfect match.
Based in Seoul, Korea, Easy Holdings generates $ 2 billion in consolidated annual revenue from 50 subsidiaries, including five in biotechnology, five in power solutions, five in agricultural solutions, five in food solutions, two companies investment and a subsidiary in the Philippines. Eight of its subsidiaries are listed on the stock exchange. It employs 4,000 people around the world, including South Korea, the Philippines, the United Kingdom, Canada and the United States. Two years ago, it made its first investment in the United States when it acquired DFS Oskaloosa, a feed production plant in Oskaloosa, Iowa.
Furst-McNess Co., headquartered in Freeport, Ill., USA, is a 113-year-old company with a significant presence and reputation in the U.S. and Canadian food industry from livestock. The company employs approximately 300 people at 12 facilities in the Midwest and Southeast and annually produces 250,000 tonnes of vitamin and mineral premixes, starters, commodity mixes and other manufactured foods. It markets an additional 1.6 million tonnes per year of feed ingredients, commodities, wet brewing grains and specialty foods in the United States and Canada. The company also operates a research and development facility near Des Moines, Iowa, USA, consisting of 5,200 pig spaces that can be separated into different pens and fed with different feeds, allowing control groups during the evaluation and validation of new products.