The transaction will be completed as soon as practical. Terms of the
agreement were not disclosed.
Strengthen
The acquisition of
Monsanto Choice Genetics (MCG) will further strengthen Newsham's expanding base
of business, according to Newsham Genetics co-CEO Brent Mitchell.
"Additionally, we'll be able to add new products and lines that
complement our current offerings, accessing new genetic combinations that
provide the most value to our customers, providing even more product
choices."
"With Monsanto Choice Genetics and Newsham Genetics
currently the second and third largest swine genetics companies, the acquisition
will create a very strong and vibrant player in the North American market with
the most extensive technology in the industry," says
Mitchell.
Genomics
Newsham Genetics placed high value on
the significant investment made by MCG over the past ten years in their genomics
platform. According to Weaver, "Monsanto developed the most extensive swine
genomic map in the industry, with over 6,000 genomic marker associations for
swine performance. This technology will allow Newsham to accelerate genetic
progress across many different traits for the industry."
As part of
the agreement, a three-year research alliance has been established between the
two companies. The alliance will focus on technology and the genomics platform
to maximize the value created in the industry from these
tools.
Subsidiary
MCG is a wholly owned subsidiary of
Dekalb Genetics Corporation, which is a wholly owned subsidiary of Monsanto
Company.
Monsanto is a leading global provider of technology-based
solutions and agricultural products that improve farm productivity and food
quality.
Related websites:
• Newsham
• Monsanto
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