Photo from Diamond V’s website.
America’s largest private company is buying Cedar Rapids-based Diamond V.
Cargill is a global company, with headquarters in a Minneapolis suburb. Cargill is buying Diamond V for an undisclosed amount of money.
Diamond V employs about 100 people in Cedar Rapids. The company makes nutritional products for livestock and pets. In September of last year, Diamond V announced plans for a $28 million expansion and the construction of a new manufacturing plant.
Market-watchers say Cargill is pushing to expand its animal nutrition business. The Diamond V deal is Cargill’s third acquistion in two months.
C.W. Bloomhall founded Diamond V in Cedar Rapids in 1943 to test his theory that fermented feed was better for livestock. Diamond V operates two production plants in Cedar Rapids. Cargill was founded in 1865 and currently operates in 66 countries.
