Cobb-Vantress and Hendrix Genetics form alliance

This alliance will strengthen Cobb’s position in the broiler breeding industry and Hendrix’ leading position in egglayer, turkey and swine genetics. The two companies have signed a Memorandum of Understanding to:
(a) Form a Broiler Joint Venture in which Cobb-Vantress acquires Hybro, the broiler breeding division of Hendrix, in exchange for preferred stock.
(b) Start a Joint Development Agreement involving their respective Research & Development into livestock genetics.
(c) To investigate a Possible Joint Venture in which part or all activities may be combined in the future.

Completion of the Broiler Joint Venture and the Joint Development Agreement is expected in the first half of 2008 and is subject to various necessary consents, including workers council, board of directors, shareholders and to the extent applicable, any other applicable approvals.

“The combination between Cobb-Vantress and Hybro creates an even stronger global leader in broiler breeding with a further complementary portfolio of product, clients, markets and production structures,” says Jerry Moye, president of Cobb-Vantress.