November 26, 2021
Sustainable food investor claims 50% stake in Hendrix Genetics
Paine Schwartz Partners, a global leader in sustainable food chain investing, today announced that it has entered into a definitive agreement with respect to a new strategic investment by Paine Schwartz Food Chain Fund V ("Fund V") in Hendrix Genetics (the "Company"), the Company said in a press statement.
Paine Schwartz and its affiliated co-investors will hold 50% ownership in the Company. Hendrix Genetics' co-founders, Thijs Hendrix and Antoon van den Berg, will also maintain a 50% ownership position in the Company and work in partnership with Paine Schwartz to drive the business forward. Investment firm NPM Capital, a shareholder in the Company since 2015, will sell its minority interest. Financial terms of the transaction were not disclosed.
"We are excited to partner with the Paine Schwartz team to build on our strong foundation and further grow by continuing to develop innovative solutions for the animal protein sector that meet the challenges of food production," said Thijs Hendrix. "Following NPM Capital's investment in 2015, this new investment from Paine Schwartz will help us to further accelerate growth through expansion into new markets and sustain our leadership in technology and R&D. This will result in driving the rapid improvement of genetics and breeding along with fundamental gains in genetic improvement for our customers. In Paine Schwartz, we are also gaining a partner that brings expertise in genetics and animal health and a shared commitment to addressing the needs for sustainable food chain solutions. We look forward to working closely with their team as we partner with other leading animal genetics and breeding companies, grow our business and provide the high-quality animal genetics upon which our customers and partners across the food chain rely."
CEO of Hendrix Genetics Jolanda van Haarlem added, "We are excited about this investment, which we believe will accelerate our next phase of growth and success. Thanks to the vision of Thijs and Antoon and the efforts of our team, we are proud to be a trusted partner to our valued customers as we create a brighter future with better breeding. We look forward to investing progressively in our breeding programmes with a continued focus on technology and data, growing our global customer base, and expanding our market share to sustain a leadership role in setting the standard for sustainable animal breeding."
The transaction is expected to close by the end of the first quarter of 2022, subject to regulatory approval and customary closing conditions.