04:34 PM EDT, 09/23/2025 (MT Newswires) -- Archer-Daniels-Midland ( ADM ) and Alltech said late Tuesday they have signed a definitive agreement to form a North American animal feed joint venture.

Financial details weren't disclosed.

Alltech will contribute its Hubbard Feeds business in the US and Masterfeeds business in Canada, including 18 and 15 feed mills in respective countries, while ADM will contribute 11 US feed mills to the joint venture majority-owned by Alltech and overseen by a board with equal representation from both companies, they said.

Alltech will retain its Ridley Block Operations, Ridley Feed Ingredients, and Alltech specialty ingredients, and ADM will maintain its Canadian locations as well as its US premix and additive businesses, they added.

The companies said they expect to close the transaction and formally launch the joint venture in Q1 of 2026.