Business

Alltech to pay $14 million for Winchester algae plant

Alltech, the Nicholasville-based maker of nutrition supplements for animals, announced Friday it has purchased an algae-fermentation facility from Martek Bioscience Corp. in Winchester for $14 million. The site will be renamed Alltech Winchester.

The purchase price will be paid over four years and will include the majority of assets on the 23-acre site, according to a release from Alltech.

"For Alltech, algae fermentation presents our latest technological platform from which we expect incredible opportunities in the areas of food, feed and fuel to arise," said Pearse Lyons, founder and president of Alltech.

Lyons said Alltech plans to start an expansion phase at Winchester within 18 months.

The announcement came one day before the start of the Alltech FEI World Equestrian Games, which will be at the Kentucky Horse Park through Oct. 10. Alltech is the title sponsor of the Games, which feature 800 athletes and 900 horses from nearly 60 countries.

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