Leaders in poultry – Cobb Vantress and Hendrix Genetics – form alliance
In a press release today, Cobb-Vantress and Hendrix Genetics have announced that they will form an alliance to strengthen Cobb’s leading position in the broiler breeding industry and Hendrix’ leading positions in egglayer, turkey and swine genetics and to enable the two to explore other joint venture opportunities.
Cobb-Vantress Inc and Hendrix Genetics have signed a Memorandum of Understanding to do the following:
(a) Form a Broiler Joint Venture in which Cobb-Vantress acquires Hybro, the broiler breeding division of Hendrix, in exchange for preferred stock. Terms of the proposed acquisition have not been disclosed.
(b) Start a Joint Development Agreement (JDA) 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 (a) the Broiler Joint Venture and (b) 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.
“Once our discussions started,” comments Jerry Moye, president of Cobb-Vantress, “it became clear that we share a very similar vision and strategy. Combining the efforts of our R&D teams will make us more efficient, and ultimately more successful.”
Thijs Hendrix, president of Hendrix Genetics, adds: “With this alliance we set foot on new land. Together we create a new platform with a new horizon in animal breeding and life sciences”.
Cobb-Vantress Incorporated
Cobb-Vantress, based in the USA in Siloam Springs, Arkansas is a leading supplier of broiler breeding stock and technical expertise for the chicken meat industry. Cobb serves the world’s broiler industry in more than 90 countries with about 1,700 employees. www.cobb-vantress.com
Hendrix Genetics B.V.
Hendrix Genetics, headquartered in Villa “de Körver”, Boxmeer, the Netherlands, is a multi species breeding company, with 5 divisions: layer breeding, broiler breeding pig breeding, turkey breeding and poultry distribution. Hendrix Genetics serves the global poultry and pork industry in more than 100 countries, with wholly owned operations and joint ventures across the world in 23 countries with about 1,500 employees. www.hendrix-genetics.com
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