The companies have also announced their decision to explore further joint venture opportunities.

The companies report that they have signed and completed a Broiler Joint Venture in which Cobb-Vantress acquired Hybro in exchange for preferred stock - of which terms of the acquisition have not been disclosed - and also a Joint Development Agreement (JDA) involving their respective Research & Development into livestock genetics.

The parties have started to investigate a possible Joint Venture in which part or all activities may be combined in the future.

"Once our discussions started", comments Jerry Moye, president of Cobb-Vantress, "it became clear that we share a very similar vision and strategy, and we realized this alliance is a natural fit. Combining the efforts of our R&D teams will make us more efficient, and ultimately more successful. The combination between Cobb-Vantress and Hybro creates an even stronger global leader in broiler breeding with a further complementary portfolio of product, clients, markets and production structures"

Thijs Hendrix, président of Hendrix Genetics, adds: "With this alliance we set foot on new land. Together we create a new platform with a new horizon in animal breeding and life sciences".

The Hybro organization, genetic lines and facilities will become a part of Cobb per today. While Hybro will not operate as a stand alone division, Hybro products will be offered as part of Cobb's portfolio. Current Cobb and Hybro customers can expect business to continue as usual. Cobb and Hybro's R&D teams will work together to develop a plan that will give the company its best potential for genetic progress and product development.