Sasso and Hendrix Genetics have signed a Memorandum of Understanding (MOU) to strategically connect the colored breeding activities of Sasso with the worldwide network and R&D center of Hendrix Genetics.
To accommodate the transaction Sasso will strengthen is equity structure via emission of new shares to Hendrix Genetics. It is anticipated that the final transaction will be completed in the autumn of this year, after regulatory approvals and other customary closing conditions.
With access to the latest breeding technology and specialized breeding IT of Hendrix Genetics, Sasso’s breeding program will be intensified to accelerate overall product development. Hendrix Genetics will support Sasso with its international asset base to establish a back-up for the core breeding program and all international GPS activities. This will ensure continuity of international Parent Stock sales, necessary to respond to any disease challenge and to set up efficient worldwide distribution. The strategic alliance will provide Sasso with a stronger financial base for its asset renewal program and international expansion plans. Sasso will continue to be managed independently to maintain its focus and dedication to breeding for the colored broiler sector, both in France and globally.
Yves de la Fourchardière, President of Sasso, comments: “Management and shareholders of Sasso understand the ongoing consolidation process within the animal breeding sector, driven by exponentially increasing R&D cost and demand for global supply security. We are pleased that Hendrix Genetics offers Sasso the opportunity to maintain our focus on breeding traditional poultry, our company culture and French ownership and at the same time link with a strong international breeding company.” Antoon van den Berg, Chief Executive Officer of Hendrix Genetics, added: “We have been looking for this partnership for several years. With this alliance Sasso can maintain and further develop itself as a sustainable co-leader in alternative broiler breeding which is particularly beneficial to the broiler sector at large.”
Sasso and Hendrix Genetics sign MoU to establish a strategic alliance in coloured broiler breeding
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