Nutreco Holding N.V. and Hendrix Genetics B.V. have signed a Memorandum of Understanding regarding the sale of the animal breeding activities Euribrid to Hendrix Genetics.
The selling price is EUR 50 million. Completion of the deal is expected in the first half of 2007.
Euribrid is the animal breeding activity of Nutreco and consists of three dedicated breeding companies, each focusing on its own species; Hybro (broilers) Hybrid (turkeys) and Hypor (pigs).
Euribrid is headquartered in Boxmeer, the Netherlands. Euribrid serves the world’s broiler, turkey and pork industry in more than 100 countries with about 550 employees.
Hendrix Genetics is also based in Boxmeer, the Netherlands. It serves the world’s egg and pork industry in more than 100 countries with about 505 employees. They own the Bovans, Hisex, DeKalb, ISA, Babcock and Shaver lines of layer genetics.
The sale of Euribrid is in line with Nutreco’s ‘Rebalancing for Growth’ strategy, which is geared to further growth of the company’s core activities of animal nutrition and aquaculture fish feed
This announcement was made just prior to the start of International Poultry Expo in Atlanta at the end of January and created a great deal of interest at the show.
According to Arian Groot, Director of Marketing and Business Development for Hendrix Genetics, “We started planning for this growth three years ago, and have made it clear that our dream was to become a multi-species breeder. We had previously worked on a joint venture with Nutreco, so when they wanted to focus on the feed side of the business we were pleased to be able to acquire Euribrid.”