PAI Partners has entered into a definitive agreement to acquire Innovad Group, a global provider of speciality feed additives serving the livestock and animal health sectors. The transaction, backed by the IK IX Fund, will see Innovad’s management team, led by Chief Executive Officer Ben Letor, reinvest in the business. Completion is expected in the first quarter of 2026.
Positioning Innovad for the Next Phase of Global Growth
Headquartered in Antwerp, Belgium, Innovad operates across the animal health and nutrition value chain, supplying speciality additives designed to improve gut health, mycotoxin management, immunity, and overall performance in poultry, ruminants and swine. The company services approximately 900 customers across 75 countries, supported by six production sites and a combination of in-house and toll manufacturing capabilities located in Belgium, Brazil, Italy and Switzerland.
Since its acquisition by IK Partners in 2021, Innovad has undergone substantial expansion, driven by both organic initiatives and strategic acquisitions. The business has strengthened its primary ingredients portfolio, advanced its phytogenic solutions, entered new regional markets, and launched a biomonitoring platform aimed at enhancing toxin-control precision. The integration of three acquisitions has further consolidated its technical expertise and competitive positioning.
PAI Partners’ Strategic Intent
PAI Partners plans to accelerate Innovad’s scale-up trajectory through continued investment in R&D, capacity expansion and targeted M&A. The firm cites its long-standing track record in Food and Consumer sectors, particularly ingredients and animal nutrition, as a strategic advantage in elevating Innovad into a global market leader within the speciality feed additives segment.
The acquisition aligns with broader industry trends, including rising demand for sustainable animal production, heightened focus on feed efficiency, and increasing regulation around animal health and food safety. PAI Partners’ strategy reflects a commitment to building international platforms that address long-term pressures in protein production and agricultural sustainability.
Industry Perspectives and Leadership Statements
Ben Letor, CEO of Innovad Group, highlighted the company’s transformative progress under IK Partners, stating that the organisation is now well positioned for its next chapter:
“We are excited to continue building on our solid fundamentals, progressive company culture and care for our clients’ needs and challenges. We feel honoured to have earned the trust of PAI and believe this new partnership will enrich and support our ambition and impactful projects moving forward.”
Gaëlle d’Engremont and Julie Gautier, Partners at PAI Partners, emphasised the firm’s confidence in Innovad’s strategic potential:
Innovad has established itself as a fast-growing, global challenger in speciality animal feed additives. We look forward to accelerating this transformation, drawing on our significant experience in establishing Food and Consumer businesses as global leaders.”
IK Partners reflected on its value-creation journey with Innovad:
“With IK’s support, Innovad has expanded in key markets, broadened its phytogenic portfolio, and increased R&D spending to build on the success of the Myco-Marker application.”
