PIC enters into agreement with Olymel LP

PIC announces agreement with Olymel.

Genus plc 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 Canadian $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."


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