(Reuters) -Grain trader Archer-Daniels-Midland ( ADM ) and agricultural products developer Alltech signed a deal to launch a North American animal feed joint venture, the companies said on Tuesday.

Alltech's Hubbard Feeds and Masterfeeds businesses, 18 feed mills in the U.S and 15 in Canada, and ADM's 11 U.S. feed mills will make up the joint venture.

The JV will be majority-owned by Alltech and governed by a board with equal representation from both companies.

Alltech will retain its Ridley Block Operations, Ridley Feed Ingredients and Alltech specialty ingredients, while ADM will keep its premix and additive businesses, the companies said.

The transaction is expected to be completed in the first quarter of 2026.