June 1, 2007

BioPacificVentures takes investment in Rissington Breedline

BioPacificVentures has taken a 45 percent shareholding in livestock genetics company Rissington Breedline.

Rissington Breedline, a privately-owned company, is New Zealand's largest sheep and beef genetics company, with breeding operations throughout the country and in the United Kingdom and South America.

Its business focus is ownership and breeding of brands and products primarily in the form of genetically superior rams, bulls and replacement females for meat production.

BioPacificVentures is one of the world's largest food, nutrition and agriculturally focused investment funds. Its largest local investor is leading agribusiness firm PGG Wrightson.

Rissington Breedline chief executive Jeremy Absolom said the BioPacificVentures investment would give Rissington Breedline the resources to take the company to a new level in terms of meeting the requirements of modern integrated supply chains.

Rissington Breedline welcomed the investment as another key landmark in the development of its business and a vote of confidence in the future of the industry.

Absolom believed those who were fully committed to specialisation and ongoing productivity gains would climb out of the tough time currently being experienced by farmers, and would be in better shape.

BioPacificVentures executive chairman Bill Kermode said he was highly impressed with the calibre and commitment of the people and organisations involved with Rissington Breedline and was pleased to become part of the group.