Collaboration between PIC and Olymel LP in Canada

RNS Number : 5982C

Genus PLC

24 February 2022

 

For Immediate Release

24 February 2022

Genus plc
('Genus', or the 'Company')

Long Term Genetic Collaboration between PIC and Olymel LP in Canada

Genus plc (LSE: GNS),  a leading global animal genetics company,  is pleased to announce that PIC has entered into definitive agreements with Olymel LP, a leader in the Canadian agrifood industry, for provision of genetic products and services in connection with the Olymel's AlphaGene porcine genetic improvement program.

Olymel is the largest porcine producer in Canada with capacity for over 185,000 pigs per week and under the transaction, PIC has acquired all intellectual property in Olymel's elite porcine genetics for a consideration of Candian $25 million.  The parties have also entered into an exclusive long term genetics collaboration agreement, where PIC will supply elite germplasm and manage the ongoing genetic improvement of Olymel's AlphaGene genetics.  Other commercial terms of the transaction are confidential.

PIC will use its proprietary genetics, technologies and services to accelerate genetic gain consistent with Olymel's strategic genetic goals.  Olymel will continue to distribute the AlphaGene genetics through its internal multiplication program and to its independent producer herds in Canada.

The collaboration combines PIC's expertise in porcine genetic improvement with Olymel's leading porcine production facilities, enabling Olymel's customers to benefit from improved AlphaGene health, efficiency and breakthrough technologies. 

The collaboration with Olymel increases PIC's footprint in the Canadian porcine genetics market and will better allow both parties to serve pork producers across Canada. 

Bill Christianson, COO of PIC, said: "We are excited to be working with Olymel, the leading Canadian pig producer, with a focus on differentiated product quality.  The complementary nature of PIC's leading genetics, and Olymel's significant production facilities will benefit customers of AlphaGene genetics throughout the porcine production pyramid."

Paul Beauchamp First Vice-president, Olymel LP added: "PIC is a world leader in porcine genetic improvement, demonstrating the improved value, health and efficiency of animals from their genetics programs year after year.  With this collaboration we intend to accelerate performance of our AlphaGene genetics, providing increased value for all of our customers."

About Genus

Genus advances animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.

Genus's worldwide sales are made in over 80 countries under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen, embryos and breeding animals with superior genetics to those animals currently in farms. Genus's customers' animals produce offspring with greater production efficiency and quality, and our customers use them to supply the global dairy and meat supply chains.

Genus's competitive edge comes from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and its global supply chain, technical service and sales and distribution network.

Headquartered in Basingstoke, United Kingdom, Genus companies operate in over 24 countries on six continents, with research laboratories located in Madison, Wisconsin, USA.

About Olymel

Olymel is Canada's leader in the production, processing and distribution of pork and poultry meats. The company has made feeding the world its mission, which it pursues passionately with products of impeccable quality. It employs over 14,000 people and has production and processing facilities in Quebec, Ontario, Alberta, Saskatchewan and New Brunswick. Olymel exports nearly a third of its total sales. Its annual sales reach $4.5 billion. The company markets its products mainly under the Olymel, Lafleur, Flamingo, La Fernandière, Pinty's, Tour Eiffel and F. Ménard brands.

For further information, please contact:

Genus plc Stephen Wilson, Chief Executive Officer Alison Henriksen, Chief Financial Officer	Tel. : UK  [phone]
Buchanan Communications Charles Ryland / Chris Lane	Tel. : UK : +44 ( 0) 207 466 5000
Olymel l.p. Richard Vigneault Corporate Communications	From Canada Tel. : [phone] 450-771-0400 or1-800-463-7568

 

END

 

 

NRAFLFEFFTIVFIF