TIDMGNS
Genus PLC
24 February 2022
For Immediate Release 24 February 2022
Genus plc
('Genus', or the 'Company')
Long Term Genetic Collaboration between PIC and Olymel LP in
Canada
Genus plc (LSE: GNS), a leading global animal genetics company,
is pleased to announce that PIC has entered into definitive
agreements with Olymel LP, a leader in the Canadian agrifood
industry, for provision of genetic products and services in
connection with the Olymel's AlphaGene porcine genetic improvement
program.
Olymel is the largest porcine producer in Canada with capacity
for over 185,000 pigs per week and under the transaction, PIC has
acquired all intellectual property in Olymel's elite porcine
genetics for a consideration of Candian $25 million. The parties
have also entered into an exclusive long term genetics
collaboration agreement, where PIC will supply elite germplasm and
manage the ongoing genetic improvement of Olymel's AlphaGene
genetics. Other commercial terms of the transaction are
confidential.
PIC will use its proprietary genetics, technologies and services
to accelerate genetic gain consistent with Olymel's strategic
genetic goals. Olymel will continue to distribute the AlphaGene
genetics through its internal multiplication program and to its
independent producer herds in Canada.
The collaboration combines PIC's expertise in porcine genetic
improvement with Olymel's leading porcine production facilities,
enabling Olymel's customers to benefit from improved AlphaGene
health, efficiency and breakthrough technologies.
The collaboration with Olymel increases PIC's footprint in the
Canadian porcine genetics market and will better allow both parties
to serve pork producers across Canada.
Bill Christianson, COO of PIC, said: "We are excited to be
working with Olymel, the leading Canadian pig producer, with a
focus on differentiated product quality. The complementary nature
of PIC's leading genetics, and Olymel's significant production
facilities will benefit customers of AlphaGene genetics throughout
the porcine production pyramid."
Paul Beauchamp First Vice-president, Olymel LP added: "PIC is a
world leader in porcine genetic improvement, demonstrating the
improved value, health and efficiency of animals from their
genetics programs year after year. With this collaboration we
intend to accelerate performance of our AlphaGene genetics,
providing increased value for all of our customers."
About Genus
Genus advances animal breeding and genetic improvement by
applying biotechnology and sells added value products for livestock
farming and food producers. Its technology is applicable across
livestock species and is currently commercialised by Genus in the
dairy, beef and pork food production sectors.
Genus's worldwide sales are made in over 80 countries under the
trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and
comprise semen, embryos and breeding animals with superior genetics
to those animals currently in farms. Genus's customers' animals
produce offspring with greater production efficiency and quality,
and our customers use them to supply the global dairy and meat
supply chains.
Genus's competitive edge comes from the ownership and control of
proprietary lines of breeding animals, the biotechnology used to
improve them and its global supply chain, technical service and
sales and distribution network.
Headquartered in Basingstoke, United Kingdom, Genus companies
operate in over 24 countries on six continents, with research
laboratories located in Madison, Wisconsin, USA.
About Olymel
Olymel is Canada's leader in the production, processing and
distribution of pork and poultry meats. The company has made
feeding the world its mission, which it pursues passionately with
products of impeccable quality. It employs over 14,000 people and
has production and processing facilities in Quebec, Ontario,
Alberta, Saskatchewan and New Brunswick. Olymel exports nearly a
third of its total sales. Its annual sales reach $4.5 billion. The
company markets its products mainly under the Olymel, Lafleur,
Flamingo, La Fernandière, Pinty's, Tour Eiffel and F. Ménard
brands.
For further information, please contact:
Genus plc Tel. : UK +44 (0)1256 347100
Stephen Wilson, Chief Executive Officer
Alison Henriksen, Chief Financial Officer
Buchanan Communications Tel. : UK : +44 ( 0) 207
Charles Ryland / Chris Lane 466 5000
Olymel l.p. From Canada
Richard Vigneault Tel. : 514-497-1385
Corporate Communications 450-771-0400 or 1-800-463-7568
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