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Sep. 26, 2007 Source: PRNewswire Newsham Genetics, LC, West Des Moines, IA, announced today that it has entered into a definitive purchase agreement to acquire Monsanto Choice Genetics, Inc. The transaction will be completed as soon as practical. Terms of the agreement were not disclosed. The acquisition of Monsanto Choice Genetics, Inc. (MCG) will further strengthen Newsham's expanding base of business, according to Newsham Genetics Co-CEO Brent Mitchell. "Additionally, we'll be able to add new products and lines that complement our current offerings, accessing new genetic combinations that provide the most value to our customers, providing even more product choices." "With Monsanto Choice Genetics and Newsham Genetics currently the second and third largest swine genetics companies, the acquisition will create a very strong and vibrant player in the North American market with the most extensive technology in the industry," says Mitchell. "We have great respect for the entire Monsanto Choice Genetics team of professionals and are excited about our future together," explains Newsham's Co-CEO Mark Weaver, DVM. Newsham Genetics placed high value on the significant investment made by MCG over the past 10 years in their genomics platform. According to Weaver, "Monsanto developed the most extensive swine genomic map in the industry, with over 6,000 genomic marker associations for swine performance. This technology will allow Newsham to accelerate genetic progress across many different traits for the industry." As part of the agreement, a three-year research alliance has been established between the two companies. The alliance will focus on technology and the genomics platform to maximize the value created in the industry from these tools. "We're pleased Newsham Genetics is acquiring this business and will continue to advance the genomic and marker technology platform for the swine industry," says Kevin Holloway, President of Monsanto's Animal Agriculture unit. "The research alliance illustrates Newsham is committed to continuing genomic research and harvesting the rich pipeline that MCG has developed." About Newsham Genetics The largest privately owned swine genetics company in the U.S., Newsham Genetics delivers superior performance breeding solutions through its SuperMom(TM) female and SuperSire(TM) Terminal Boar lines. Using its unique Gentel(R) selection technology, Newsham is a customer-focused provider of high performance, high health swine genetics. Learn more at http://www.newsham.com. Tweet |
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