Phibro Animal Health Corp. acquired Osprey Biotechnics Inc., a Sarasota, Fla.-based privately held maker of microbial products.
The deal will allow Phibro to benefit from Osprey's microbial strain portfolio, which can be used in advancing its animal health products, as well as agricultural goods such as seed coatings.
Teaneck, N.J.-based Phibro, which provides animal health products such as vaccines, expects the transaction to be accretive to adjusted EBITDA and adjusted diluted EPS for the fiscal year ending June 30, 2020. The company funded the purchase through its existing credit facilities.
The company did not disclose the deal value.