Hendrix Genetics, the global leader in turkey breeding, has reached an agreement in principle to acquire a controlling stake in turkey distributor Coolen, who owns the largest turkey hatchery in the Netherlands. The transaction is expected to close before year end, following customary due diligence and other approvals.
Through this partnership, customers will benefit from a better flow of knowledge and quality turkey poults from Hendrix Genetics as primary turkey breeder. For Hendrix Genetics, the Netherlands can play a strategic role as supplier to Germany and as export base for markets outside of Europe. Both companies also see, next to commercial turkeys, great opportunities in developing the market of traditional and bronze turkeys.
Henk Coolen, shareholder and managing director of Coolen Hatchery, said, “I am happy to come to this agreement with Hendrix Genetics. The fact that I will continue to work in the company allows me to contribute and help grow the company even further. ”
Dave Libertini, managing director of Hendrix Genetics Turkeys Business Unit, said, “We welcome Henk and all the employees of Coolen onto our team. We expect this acquisition will provide customers throughout Europe with a secure, integrated supply of turkey poults as part of an aligned distribution network.”
Antoon van den Berg, CEO of Hendrix Genetics, added, “The fact that the hatchery of Coolen is located so close to our home base makes this a natural fit for Hendrix Genetics as a whole. The Netherlands could act as a natural base for the expansion of our traditional and bronze turkey market.”