International feed and feed additive manufacturer Alltech is negotiating to buy assets of the Keenan System TMR equipment manufacturer from the receiver.
Keenan, based in Co Carlow in the Irish Republic, called in KPMG as receiver after a period of losses and the failure to conclude a deal with a potential investor. It has a UK office at Stoneleigh in Warwickshire.
Alltech has confirmed it is in due diligence talks with Keenan and its receivers. “Both Keenan and Alltech are private, family-owned companies and have long been firm friends in the field of agri-business,” says a company statement. “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 believes there are opportunities for growth and synergy.”
The Keenan farm equipment business was established in 1978, and launched its first totally-mixed diet feeder wagon in 1983.