Newsham Genetics has entered into a definitive purchase agreement to acquire Monsanto Choice Genetics, Inc. Terms of the agreement were not disclosed.
The acquisition strengthens Newsham’s business base, according to Newsham Genetics Co-CEO Brent Mitchell. “Additionally, we’ll be able to add new products and lines that complement our current offerings, accessing new genetic combinations that provide the most value to our customers, providing even more product choices.
“With Monsanto Choice Genetics and Newsham Genetics currently the second- and third-largest swine genetics companies, the acquisition will create a very strong and vibrant player in the North American market with the most extensive technology in the industry,” says Mitchell.
“We have great respect for the entire Monsanto Choice Genetics team of professionals and we are excited about our future together,” explains Newsham’s Co-CEO Mark Weaver, DVM.
Newsham officials recognized the significant investment that Monsanto made in its genetics platform over the past 10 years. “Monsanto developed the most extensive swine genomic map in the industry, with over 6,000 genomic marker associations for swine performance,” says Weaver. “This technology will allow Newsham to accelerate genetic progress across many different traits for the industry.”
The agreement includes a three-year research alliance between the two companies. The alliance will focus on technology and the genomics platform to take advantage of the value created from these tools.
“We’re pleased Newsham Genetics is acquiring this business and will continue to advance the genomic and marker technology platform for the swine industry,” says Kevin Holloway, president of Monsanto’s Animal Agriculture unit. “The research alliance illustrates Newsham is committed to continuing genomic research and harvesting the rich pipeline that Monsanto has developed.”