Agribusiness giant Cargill has purchased a 5.3% stake in the largest US producer of livestock feed, Purina Mills.

The stake is the second Cargill has made in a former Ralston Purina business, having also recently acquired Agribrands.

The financial details were not released, but Cargill sources revealed that the stake was secured for "investment purposes." Purina Mills revealed recently that it was considering an acquisition proposal.