Newsham Genetics has entered into a definitive purchase agreement to acquire Monsanto Choice Genetics. The transaction will be completed as soon as practical, according to a Newsham news release. Terms of the agreement were not disclosed.
Acquiring Monsanto Choice Genetics will further strengthen Newsham’s expanding business base, says Brent Mitchell, Newsham Genetics co-chief executive officer. “Additionally, Newsham will be able to add new products and lines that complement our current offerings, accessing new genetic combinations that provide the most value to our customers, providing even more product choices,” he adds.
Monsanto Choice Genetics and Newsham Genetics are currently the second and third largest swine genetics companies respectively. "The acquisition will create a very strong and vibrant player in the North American market with the most extensive technology in the industry,” says Mitchell.
“We have great respect for the entire Monsanto Choice Genetics team of professionals and are excited about our future together,” says Mark Weaver, DVM, Newsham’s co-chief executive officer.
Newsham Genetics places a high value on the significant investment made by Monsanto Choice Genetics during the past 10 years in its genomics platform, notes Weaver, “Monsanto developed the most extensive swine genomic map in the industry, with more than 6,000 genomic marker associations for swine performance. This technology will allow Newsham to accelerate genetic progress across many different traits for the industry,” he says.
As part of the agreement, the two companies have established a three-year research alliance. It will focus on technology and the genomics platform to maximize the value created in the industry from these tools.
“We’re pleased Newsham Genetics is acquiring this business and will continue to advance the genomic and marker technology platform for the swine industry,” says Kevin Holloway, president of Monsanto’s animal agriculture unit. “The research alliance illustrates that Newsham is committed to continuing genomic research and harvesting the rich pipeline that Monsanto Choice Genetics has developed.”
Source: Newsham Genetics