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Ridley Inc.: Ridley Inc. Announces Acquisition of Assets of Golden Lyk, LLC

^{Published on 2009-10-02 11:27:36 - Market Wire}
 

MANKATO, MINNESOTA and WINNIPEG, MANITOBA--(Marketwire - Oct. 2, 2009) - Ridley Inc. (TSX:RCL) announced today that it has acquired manufacturing equipment and certain intellectual property rights of Golden Lyk, LLC, and its parent company, Denco, LLC, that are used in the production of compressed feed blocks for livestock. The assets acquired from Golden Lyk and Denco will expand Ridley's product offering in livestock feed blocks and improve Ridley's access to key customers in the U.S. Midwestern states.

Ridley will relocate the Golden Lyk manufacturing equipment to its existing block manufacturing facility in Worthington, Minnesota. Production of compressed feed blocks at Worthington is expected to be underway by mid-December, 2009. Ridley will also expand its warehouse, ingredient storage area and other operating activities to allow for additional capacity and product options at the Worthington facility. During the transition, Ridley will supply Golden Lyk^® and Easyblox^® branded blocks and other compressed blocks from its Flemingsburg, Kentucky facility. To learn more about the Golden Lyk^® brand, visit [ www.goldenlyk.com ].

Terms of the transaction were not disclosed.

Located in Morris, Minnesota, Golden Lyk, LLC was established in 2001 as a subsidiary of Diversified Energy Company (Denco, LLC) to utilize grain by-products from ethanol production in the manufacture of livestock feed products.

Ridley Inc., headquartered in Mankato, Minnesota and Winnipeg, Manitoba, is one of North America's leading commercial animal nutrition companies. Ridley employs more than 900 people in the United States and Canada in the manufacture and distribution of a full range of animal nutrition products under highly regarded trade names.

Ridley's common shares are listed on The Toronto Stock Exchange (trading symbol: RCL). Visit our website at www. ridleyinc.com