ANIMAL feed manufacturer Ridley Inc. has been put up for sale by its majority shareholder.
Australian-based Ridley Corporation Limited informed Ridley Inc.’s board of directors that it wants to sell its 69-per-cent controlling interest in the company.
As a result, a strategic review process has been initiated "to explore potential sale alternatives...," Ridley Inc. said in a written statement released today.
"Investors are cautioned that there can be no assurance that any transaction will be pursued, announced, entered into, or consummated by the company in connection with the strategic review process," Ridley Inc. said, adding it has not yet received any offers or proposals.
Ridley, which has dual headquarters in Winnipeg and Mankato, Minn., is one of North America’s largest animal nutrition companies.