Purina Mills Bought
By Koch Agriculture

ST. LOUIS — Koch Agriculture Co. has completed its purchase of Purina Mills Inc., bringing together two agribusiness giants.

The merger, announced in November, was completed last Wednesday.

Koch, based in Wichita, Kan., acquired all outstanding shares of PM Holdings Corp. common stock and assumed all debt of the St. Louis-based company. The acquisition price was not disclosed.

Koch Agriculture Co. produces animal feed, fertilizers, finished meat products, wheat and flour. Purina Mills is the nation's largest commercial feed manufacturer.

Purina Mills produces about five million tons of animal feed annually, about 10 percent of the U.S. commercial feed market. It has 56 plants, most in the central and southwest United States.

No layoffs or plant closures were expected, said Max Fisher, spokesman for Purina Mills. The company has about 3000 employees. It will continue to be headquartered in St. Louis and use its brand name and logo.

Purina Mills had more than $1.2 billion in sales in 1996. The company sells its products through a network of more than 4000 independent dealers and 4000 direct customers.

Koch Agriculture Co. is a subsidiary of Koch Industries Inc., the nation's second-largest privately held company behind agribusiness giant Cargill.