St. Joseph, Mo. – Boehringer Ingelheim Vetmedica, Inc. (BIVI) announced Wednesday that it has sold off some of its property in Iowa.

Boehringer said the property located at 141 Riverside Drive in Fort Dodge, IA has been sold to AML Riverside LLC, whose parent company is New Zealand-based ARGENTA. Terms of the deal were not disclosed.

“Our ability to sell our Riverside property allows us to continue focusing on and expanding our capacity to modernize operations at our 5th Street facility in Fort Dodge, which employs more than 500 people,” said Dr. Albrecht Kissel, president and CEO of BIVI. “Construction will begin shortly on $60 million worth of investment that we announced last year.”

Argenta is a global provider of drug product development, innovative delivery technologies and contract manufacturing services.

“We are excited that AML Riverside LLC will be able to use the building as it was intended,” said Dennis Plautz, CEO, Greater Fort Dodge Growth Alliance. “Boehringer Ingelheim Vetmedica, Inc. has and will remain one of our major employers in Fort Dodge. We are pleased with their continued investment in our community and happy to welcome AML Riverside LLC.”