Euribrid, Nutreco’s animal breeding activity, will be sold to Dutch breeder Hendrix Genetics. For that purpose, the companies signed a memorandum of understanding.
The deal includes Euribrid’s related animal breeding research centre. The selling price is €50 million. Completion of the deal is expected in the first half of 2007.
Antoon van den Berg, chief executive officer and co-shareholder of Hendrix Genetics, said he was hoping that both companies ‘could further develop their joint relation, which is built on trust and mutual successes’.
He continued, “I am honoured and proud to give leadership to this new enlarged group and we are confident, knowing the capabilities of the people and breeding know how of Euribrid, combined with an even greater shareholder stability and dedication from Hendrix Genetics, that we are able to create a strong breeding group that establishes leadership in the sectors we are working in.”
Thijs Hendrix, president and controlling shareholder of Hendrix Genetics, added, “Based upon our common history and shared values we will create a new platform with a new horizon that will enable us to further focus on growth and consolidation opportunities in animal breeding and life sciences.”
Euribrid consists of several animal breeding divisions, including Hypor for pigs.
Pigs Online, a Dutch online pig management system, is owned by Hendrix Genetics. The company also has many poultry breeding sites across the Netherlands.
Related news item:
â€¢ Nutreco possibly taken over, says bank (24 Jan 2007)