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PIC to Purchase Cotswold Swine Genetics

by 5m Editor
24 September 2003, at 12:00am

LONDON - Sygen International plc, a world leader in applying quantitative genetics and biotechnology to animal breeding, announced today that its subsidiary, PIC, has reached binding agreement to acquire all product lines and key assets of Cotswold Swine Genetics, ..

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.. of North America for up to (pounds) 1.7 million in cash. The acquisition increases PIC North America's leadership position in the pig genetics market.

Cotswold is being sold by Ridley Inc., which, on 16 July 2003, announced its plans to divest this division, in an effort to concentrate on its core competencies - animal nutrition and animal health products. Cotswold has been an active participant in the North American pig market for many years, with its primary customers in Canada and USA. The company has had a competitive genetic programme and a quality health management infrastructure.

Components of the acquisition include the artificial insemination centre and seven unique genetic lines from the North American Genetic Nucleus Farm. These lines will subsequently be evaluated as potential additions to PIC's existing industry-leading 17 distinct genetic lines. With the purchase, PIC also obtains the rights to market these products in USA, Canada, Mexico and Australia.

Phillip David, Sygen's Chief Executive, commented: "This acquisition provides a great opportunity to leverage our company's technical expertise across additional genetic lines in our continued effort to explore new product development and marker technologies for pork producers."

Source: Business Wire - 24th September 2003

5m Editor