RCS - Genus - Collaboration between PIC and Olymel LP in Canada

GenusAnnouncement

24/02/2022 07:18

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220224:nRSX5982Ca&default-theme=true

RNS Number : 5982C  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)207 466 5000

 Charles Ryland / Chris Lane

 Olymel l.p.                                 From Canada

Tel. : 514-497-1385
 Richard Vigneault

                                           450-771-0400 or 1-800-463-7568
 Corporate Communications

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFLFEFFTIVFIF