AgFeed Industries, Inc. Announces Agreement to Acquire Leading U.S. Hog Production Company For About $16M

AgFeed Industries, Inc. FEED announced today that it has reached an agreement in principle to acquire the operations of M2P2 LLC based in Ames, Iowa. AgFeed and M2P2 have entered into a non-binding term sheet summarizing the principle terms of the acquisition and expect to complete the transaction later this summer. It is anticipated that John Stadler, Chairman of M2P2 will join AgFeed's Board of Directors upon completion of the transaction. M2P2 is a leading U.S. hog production company, having set standards of excellence in innovation, productivity and efficiency in pork production. M2P2 is a joint venture partner with AgFeed in AgFeed International Protein Technology Corp. ("AFIPT").