Completion of Acquisition of Genetiporc do Brasil

RNS Number : 6325Z

Genus PLC

10 February 2014

 



For Immediate Release                                                                                                                          10 February 2014

GENUS plc

Completion of Acquisition of Genetiporc do Brasil

Genus plc ("Genus" or the "Group"), a leading global animal genetics company, is pleased to confirm that, further to the announcements on 23 September 2013 and 18 October 2013 regarding Genus' acquisition of Génétiporc, Agroceres PIC, Genus' 49% owned joint venture in Brazil, has completed the acquisition of Genetiporc do Brasil LTDA, Génétiporc's Brazilian joint venture. 

Genetiporc do Brasil has been acquired for a total purchase price of Real 19m (£4.9m).  The acquisition by Agroceres PIC has been funded by Genus and its joint venture partner, Agroceres, subscribing for additional equity pro rata to their existing equity ownership.  For the year ending 31 December 2013 Genetiporc do Brasil had a turnover of Real 26.2m (£6.7m) and profit before tax of Real 2.9m (£0.7m).

Genetiporc do Brasil represents an excellent strategic fit with Agroceres PIC's core activities and the acquisition will bring significant opportunities from the combination of the two operations and will further strengthen Agroceres PIC's business in Brazil.

For further information please contact:

Genus plc	Tel: [phone]
Karim Bitar, Chief Executive
Stephen Wilson, Group Finance Director
Buchanan	Tel: [phone]
Charles Ryland /Sophie McNulty

This announcement is available on the Genus website www.genusplc.com

About Genus

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

Genus' worldwide sales are made in seventy countries under the trademarks "ABS" (dairy and beef cattle) and "PIC" (pigs) and comprise semen and breeding animals with superior genetics to those animals currently in production. Genus' customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chain.

The Group's competitive edge has been created 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.

With headquarters in Basingstoke, United Kingdom, Genus companies operate in thirty countries on six continents, with research laboratories located in Madison, Wisconsin, USA.

About Génétiporc

Génétiporc is the porcine breeding business of Aliments Breton Foods Group. It is based in Canada with operations in the US and Mexico and a joint venture in Brazil.

Founded in 1984, in response to demand from producers for a swine genetics company that would understand their concerns and would be there to offer solutions, Génétiporc is now one of the leading providers of porcine genetics in North America and Brazil. It prides itself on its achievements in product development, health and biosecurity and meat quality.

 

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