The current ownership group of Newsham Choice Genetics has agreed to an arrangement whereby their current European joint venture partner, Groupe Grimaud, will obtain 100% ownership of the company. Presently, Newsham Choice Genetics has three ownership entities: Bucolica, the Netherlands based group which includes partner Groupe Grimaud of France; the Mitchell family; and some Newsham management personnel. The timetable for the change is February.
“As a global leader in multi-species animal genetics, Groupe Grimaud understands the future growth opportunities in swine genetics,” says Frederic Grimaud, president of Groupe Grimaud. “Newsham Choice Genetics continues to utilize leading technologies to grow their market. This ownership change indicates our dedication and support for the Newsham Choice Genetics business and their ability to create genetic change at an unprecedented rate to meet the demands of the swine industry. We also see a real opportunity to extend Newsham business worldwide through the global network of our group as well as a larger cooperative emphasis in R&D innovation and development.”
Brent Mitchell, Co-CEO of Newsham Choice Genetics states, “This decision is an important progression to our dedication to meet the future needs of our industry. This step will provide very positive support to our goal of becoming a global leader in swine genetics technology.”
Groupe Grimaud, inclusive of Newsham Choice Genetics, employs approximately 1,500 people and forecasts about 290 million USD in 2010 revenue, doing business in more than 100 countries worldwide.
Mark Weaver, DVM, Co-CEO of Newsham Choice Genetics says, “Profitability in today’s pork production industry is intimately tied to breeding stock choices and genetics. Technologically, Newsham Choice Genetics leads the industry in proprietary marker-assisted selection that provides for accelerated genetic improvement to pork producers. Groupe Grimaud currently utilizes this same technology in broiler selection and is committed to Newsham Choice Genetics’ continued growth in technology and products.”
Newsham Choice Genetics’ current management team will continue serving in their current roles. “We are excited about the synergies and benefits that our combined management group will provide to the ongoing business, especially at the customer support and service level,” says Brent Mitchell.
Newsham Choice Genetics (www.newsham.com) in West Des Moines, Iowa, is the second largest swine genetics supplier in North America. The company is the leader for marker-assisted-selection in pigs; using 6,000 SNPs in discovery and selection, and offers a variety of high-performance maternal and terminal products to the swine industry.
Groupe Grimaud, located in Roussay, France, is a global leader in the life sciences applied to animal genetics and biopharmacy. It is the second largest multi-species animal genetic company in the world, comprising Hubbard in broiler chickens, Novogen in layers, Grimaud Frères in ducks and small species. Groupe Grimaud (www.grimaud.com) is also developing innovative technologies for biopharmaceutical uses through Vivalis, its Euronext listed subsidiary.
West Des Moines, Iowa, USA
January 25, 2010