DES MOINES, Iowa – TOPIGS International and Norsvin announced Wednesday at the 2014 World Pork Expo a merger, bringing the two companies together to form Topigs Norsvin.
The merger creates a "world-leading swine breeding company" with annual revenues exceeding $179 million.
In a news conference, Topigs Norsvin CEO Martin Bijl called TOPIGS and Norsvin “a perfect match” and explained the companies have a strong research and development presence, a complementary geographic presence and joined together, will have a high-end combined product portfolio.
In addition, both companies are farmer-owned, sharing an ownership vision.
“This isn’t about cost-cutting,” he said. “This is about adding more value to our customers. I think that makes this merger unique.”
Research, innovation and dissemination of genetic improvement will be the cornerstones of the new company.
The companies have cooperated successfully on R&D projects for many years and are now fully aligning their R&D activities to accelerate genetic progress and develop new products. The combined R&D budget is about $25 million, or 14 percent of revenues.