LONDON (dpa-AFX) - Animal genetics company Genus plc (GNS.L) and European pig breeding company Hermitage said they have agreed to enter into a strategic partnership covering the supply of porcine genetics in several markets.
Under the deal, PIC, Genus's porcine division, will acquire the genetic rights and intellectual property of Ireland-based Hermitage.
Hermitage will also become a strategic supply chain and distribution partner for PIC. In addition, PIC will acquire certain Hermitage customer relationships in various geographies including Russia, the US and several European countries.
The transaction is subject to a number of closing conditions which are expected to be fulfilled by the end of March 2017.
Copyright RTT News/dpa-AFX