September 24, 2003
Sygen Acquires Cotswold, Strengthening Presence In Animal Breeding
Sygen International PLC, a world leader in applying quantitative genetics and biotechnology to animal breeding, announced in London Wednesday that its subsidiary, PIC, has reached a binding agreement to acquire all product lines and key assets of Cotswold Swine Genetics of North America for up to 1.7 million British pounds in cash. This acquisition increases PIC North America's leadership position in the pig genetics market.
Ridley Inc., which sold Cotswold on 16 July 2003, disclosed that it had panned to move away from this division in order to concentrate on its core competencies - animal nutrition and animal health products. With many years in the North American pig market, Cotswold has drawn up an impressive repertoire of key information in genetic programming and quality health management, with primary customers in Canada and USA.
Included in the acquisition deal are the artificial insemination centre and seven unique genetic lines from the North American Genetic Nucleus Farm. PIC now holds the rights to market their products in USA, Canada, Mexico and Australia.
Sygen International focuses on applying quantitative genetics and biotechnology to animal breeding, with the view of enabling farmers to enhance meat production and create better non-GMO food products. It has offices in 30 countries.
Phillip David, Sygen's Chief Executive, commented: "This acquisition provides a great opportunity to leverage our company's technical expertise across additional genetic lines in our continued effort to explore new product development and marker technologies for pork producers."