PIC and Genetiporc are poised to merge because Genus has
bought Genetiporc from Aliments Breton Foods of Quebec.
Genus of England owns PIC. The merger will make Genus the
dominant provider of pig genetics in Canada.
Thank goodness Canadians have a strong network of independent purebred breeders!
Breton will concentrate on its organic foods business and
will buy its pig genetics from PIC. It's organic-farmer purchases have been a boon to many Mennonite families in the Waterloo Region and Perth and Wellington Counties.
Breton is getting $31 million for its Genetiporc businesses
in Canada, the U.S. and Mexico and $8.6 million for its business in Brazil. It
is also assuming $5.77 million of Genetiporc debt.
The deal includes its 3,200 pureline sows and Genetiporc’s customer
contracts.
Genus and Genetiporc’s genetic nucleus herds and product
development programs will be “integrated,” Genus said, and Genetiporc’s
operations will be merged into PIC’s North American and Latin American
businesses by “integrating the supply chains and merging customer-facing teams.”
Genetiporc had about $62 million in sales outside of
Brazil in its most recent fiscal year, but only broke even on the business.
