Cobb-Vantress and Hendrix Genetics: alliance to strengthen worldwide leading positions
Published: January 8, 2008
Source : Hendrix Genetics
Cobb-Vantress Inc and Hendrix Genetics B.V. 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, and we realized this alliance is a natural fit. Combining the efforts of our R&D teams will make us more efficient, and ultimately more successful. 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."
Thijs Hendrix, président 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, is the world’s leading supplier of broiler breeding stock and technical expertise for the chicken meat industry. Cobb works with their customers to provide for the growing demand for chicken, helping them to increase production efficiency and improve overall returns. Care for the welfare of the chickens and for the needs of the customers is central to the Cobb philosophy.
The company, the oldest in poultry breeding industry, is based in the USA in Siloam Springs, Arkansas. Successful products are distributed to the market and to customers through either direct Cobb-Vantress commercial operations or through the company's partnerships with over 50 distributors worldwide. A portfolio of products caters to different market requirements: The COBB500™, the world’s most popular broiler breeder, is the product of more than 30 years’ research and development. It is the standard for many producers, with a reputation for uniformity and ability to thrive on lower cost nutrition. The COBB700™ has increased emphasis on breast meat yield for deboned and further processed, value added products. COBBAVIAN48™ is targeted at customers seeking a responsive breeder and broiler combination and competitive chick cost required in many markets worldwide. Cobb serves the world’s broiler industry in more than 90 countries with about 1,700 employees.
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 (Institut de Sélection Animale: ISA™, SHAVER™, BABCOCK™, WARREN™, BOVANS™, HISEX™, DEKALB™ ), broiler breeding (HYBRO™ and PILCH™), pig breeding (HYPOR™ and GENEX™), turkey breeding (HYBRID™ and ORLOPP™) and poultry distribution (SFPA). In line with its early 2005 formulated strategy it will focus on growth and consolidation opportunities in animal breeding and life sciences. 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.
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