A Memorandum of Understanding has been signed today between Hendrix Genetics and Groupe Glon to acquire France Hybrides from Groupe Glon.
Completion of the deal is expected in the first half of 2008 and is subject to various customary conditions as due diligence, necessary consents, including workers council, board of directors, shareholders and to the extent applicable, any other applicable approvals.
France Hybrides, a swine genetics company, will become legally part of Hendrix Genetics s.a.s and will be integrated in its swine genetics division Hypor.
Groupe Glon will keep the operational running of France Hybrides in France (swine breeding and artificial insemination) through its network Sanders.
Both parties have started to investigate a strategic long term minority shareholding by Sofiprotéol (majority shareholder of Groupe Glon) in the capital of Hendrix Genetics B.V.
France Hybrides, is a privately held swine genetics company in France and is a leader in developing swine breeding stock and technical expertise for the pork meat industry. www.france-hybrides.com
Groupe Glon is headquarterd in Saint-Gérand, Brittany. Its activities are animal nutrition, agricultural supplies, genetics and animal health, food industry, services and expertise, with 3,700 employees and revenues (2006) of € 1,235m. www.groupe-glon.com
Sofiprotéol is headquarted in Paris and was established in 1983, as the financial firm in France’s vegetable oil and plant-proteins sector. It supports the development and use of oilseed and rotein-rich crops by providing appropriate financial and productive resources. www.prolea.com
Hendrix Genetics B.V.
Hendrix Genetics, headquartered in Boxmeer, the Netherlands, is a multipecies breeding company. Hendrix Genetics serves the global pork and poultry industry with wholly owned operations and joint ventures across the world in 23 countries. www.hendrix-genetics.com