Winnipeg feed manufacturer Ridley Inc. has bought its way further into the compressed feed block business in the U.S. Midwest.
The company, which also maintains offices at Mankato, near Minneapolis, announced Friday it’s bought the equipment and intellectual property of Golden Lyk, based at Morris, Minn., about 180 km south of Fargo, N.D.
The company was set up in 2001 as an arm of ethanol maker Denco, which used corn, corn gluten meal and dried distillers grain byproducts from ethanol processing as ingredients in compressed supplement tubs. Its products are marketed to cattle, horse, sheep, elk, buffalo and goat producers.
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Ridley plans to move Golden Lyk’s manufacturing equipment about 250 km south to its own block manufacturing facility at Worthington, Minn., and expected to start making compressed feed blocks at Worthington by mid-December.
Ridley said it also plans to expand its warehouse, ingredient storage area and other operating activities to handle the “additional capacity and product options” at Worthington.
In the meantime, Ridley said it will supply Golden Lyk, Easyblox and other compressed blocks from a supplement block plant Ridley bought last year at Flemingsburg, Ky., about 90 km northeast of Lexington.
Financial terms of the Golden Lyk sale weren’t disclosed.
