GENUS ACQUIRES HERMITAGE'S GENETIC ASSETS AND ENTERS INTO A STRATEGIC PARTNERSHIP
Genus, a leading global animal genetics company, and Hermitage, one of the longest established pig breeding companies in Europe, have announced that they have signed an agreement to enter into a strategic partnership covering the supply of porcine genetics in several markets.
PIC, Genus's porcine division, will acquire the genetic rights and intellectual property of Hermitage. Hermitage will also become a strategic supply chain and distribution partner for PIC. In addition, PIC will acquire certain Hermitage customer relationships in various geographies including Russia, the US and several European countries. The transaction is subject to a number of closing conditions which are expected to be fulfilled by the end of March 2017.
The partnership combines PIC's genetics expertise and quality, and Hermitage's supply chain network and operational excellence. This combination will strengthen PIC's ability to deliver genetic improvement in Europe and provide customers of both PIC and Hermitage with access to top-tier genetics and optimal technical and health services.
Hermitage was established in 1958 in Ireland and is one of the longest established porcine breeding and genetics companies in Europe. Over the years, Hermitage has grown into a multinational porcine breeding company.