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Nutreco to sell the animal breeding activities of Euribrid to Hendrix Genetics

by 5m Editor
25 January 2007, at 9:51am

THE NETHERLANDS - Nutreco Holding N.V. and Hendrix Genetics B.V. have signed a Memorandum of Understanding regarding the sale of the animal breeding activities “Euribrid”, including its related Animal Breeding Research Centre, to Hendrix Genetics.

The selling price is EUR 50 million. The net proceeds after deduction of costs and other charges connected with the transaction are in excess of book value. Euribrid posted revenues of EUR 73.9 million in 2005. Completion of the deal is expected in the first half of 2007.

Euribrid is the animal breeding activity of Nutreco and consists of three dedicated breeding companies, each focusing on its own species; Hybro (Broilers) Hybrid (Turkeys) and Hypor (Pigs). It also includes a trading company (day old chickens and hatching eggs from layers and broilers), named Plumex. Euribrid is headquartered in Boxmeer, the Netherlands. With a number of wholly owned operations and joint ventures across the world in 15 countries on 3 continents, Euribrid serves the world’s broiler, turkey and pork industry in more than 100 countries with about 550 employees.

Hendrix Genetics, majority-owned and controlled by Thijs Hendrix Beheer B.V., is also based in Boxmeer, the Netherlands. With a number of wholly owned operations and joint ventures across the world in 13 countries on 4 continents it serves the world’s egg and pork industry in more than 100 countries with about 505 employees.

Juergen Steinemann, Chief Operating Officer of Nutreco: “The sale of Euribrid to Hendrix Genetics, a dedicated global player in animal breeding, provides the best guarantee of future opportunities for Nutreco’s breeding business and the people who work in it. The sale of Euribrid is in line with Nutreco’s ‘Rebalancing for Growth’ strategy, which is geared to further growth of the company’s core activities of animal nutrition and aquaculture fish feed.”

In the past 20 months Nutreco has acquired a fish feed business in Japan and animal feed businesses have been acquired in Mexico, Russia, China, India and the Netherlands. In Brazil, a new production facility has been brought on stream.

5m Editor