Genus plc (“Genus” or the “Group”), a leading global animal genetics company, is pleased to announce the acquisition of Génétiporc, the porcine genetics business of Aliments Breton Foods Group, the largest producer and processor of organic and natural pork in North America. Génétiporc is based in Canada, and has operations in the United States and Mexico and a joint venture in Brazil. The total consideration for the acquisitions including assumed debt and Genus' share of the Brazilian joint venture is £24.8m.
Genus will acquire the U.S. and Mexican Génétiporc companies and certain assets in Canada, principally intellectual property, genetic nucleus herds of approximately 3,200 pure line sows and customer contracts. The consideration for these acquisitions is US$30.0m (£18.8m) in cash which will be financed from existing facilities. These acquisitions also include assumption of debt of US$5.6m (£3.5m) which will be repaid at, or shortly after, closing.