Dublin-based pig breeder Hermitage has entered into a strategic partnership with UK animal genetics group Genus. Under the deal, which is still subject to several closing conditions, Genus's PIC porcine unit will acquire the genetic rights and intellectual property of Hermitage.
The partnership will also see the Irish company become a strategic supply chain and distribution partner for PIC. PIC will acquire certain Hermitage customer relationships in Russia, the US and several European countries. The deal is expected to be finalised by the end of next month.
Established in 1958, Hermitage is one of the longest running porcine breeding and genetics companies in Europe, serving big producers in Europe and elsewhere. Its infrastructure includes nucleus farms and boar studs in Ireland and across Europe.
Commenting on the deal, Hermitage owner Ned Nolan said: "This is an exciting step for Hermitage, as we join forces with a global pioneer in our field.
“Our partnership with PIC will allow the continued use of the Hermitage gene pool to provide enhanced genetics to our global customer base,” he added.
Genus chief executive Karim Bitar said: "The partnership with Hermitage is an ideal fit with our porcine strategy."
“It will provide Genus with the opportunity to accelerate genetic improvement by combining the PIC and Hermitage gene pools,” he said.
“In addition, Hermitage’s strong supply chain and customer-service oriented team will strengthen our ability to serve pig producers efficiently and reliably,” he added.
