Cobb Vantress and Hendrix Form Alliance

GLOBE - Cobb-Vantress and Hendrix Genetics have recently announced an alliance that will strengthen Cobb's leading position in the broiler breeding industry and Hendrix's leading position in egglayer, turkey and swine genetics, enabling the two companies to explore other joint venture opportunities.
calendar icon 8 January 2008
clock icon 3 minute read

Cobb-Vantress Inc and Hendrix Genetics B.V. have signed a Memorandum of Understanding to do the following:

  1. Form a Broiler Joint Venture in which Cobb-Vantress acquires Hybro, the broiler breeding division of Hendrix, in exchange for preferred stock. Terms of the proposed acquisition have not been disclosed.

  2. Start a Joint Development Agreement (JDA) involving their respective Research & Development into livestock genetics.

  3. To investigate a Possible Joint Venture in which part or all activities may be combined in the future.

Completion of (a) the Broiler Joint Venture and (b) the Joint Development Agreement is expected in the first half of 2008 and is subject to various necessary consents, including workers council, board of directors, shareholders and to the extent applicable, any other applicable approvals.

"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”.

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