Alltech has confirmed it is now in due diligence talks with Keenan and its receivers to investigate a possible acquisition.
Earlier this week it was announced that Keenan had entered into receivership.
Keenan is a respected leader in ethical and profitable farming solutions focused on maximising feed efficiency. Keenan, headquartered in Co. Carlow, employs 222 people, of which 176 are based in Ireland.
A statement from Alltech said both Keenan and Alltech are private, family-owned companies and have long been firm friends in the field of agri-business. Alltech has identified various growth opportunities in the on-farm performance arena and believe Keenan could offer further technological advancement for moving farmers towards greater efficiency and profitability. Keenan exports to approximately 25 countries, with Alltech’s global presence in more than 120 countries, Alltech believe there are opportunities for growth and synergy.