Merger to create huge genetic asset

The merging of genetics companies Rissington Breedline and LandCorp Genetics will create the world's largest single genetic database, its backers say.

The companies had been working together in a Primary Growth Partnership, but Landcorp chief executive Chris Kelly said the two companies were working together before the PGP deal with Silver Fern Farms and PGG Wrightson.

He said the two genetic companies had been collaborating for the past year and the formal amalgamation would give customers significantly improved genetic gain.

"Customers of both entities will continue to be able to access genetics from both existing breeding programmes including Pimera, Lamb Supreme, Highlander, LandMark, Romney and Texel sheep breeds, Angus, Simmental and Stabiliser cattle breeds and Wapiti and Red deer breeds," the parties said.

No existing staff will lose jobs.

Mr Kelly said the success of the dairy industry came from genetic gain and the development of large-scale co-ordinated genetic improvement programmes, something the sheep, beef and deer industries needed.

"The size of the new entity will increase its ability to invest in ground-breaking research and development technologies that are becoming more expensive and complex."

The entity, jointly owned 50:50 by the parties, was subject to final due diligence and provided it met that criteria, would operate from May.


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