Ridley, one of North America's larger producers of formulated livestock feed, announces the sale of its European swine breeding and genetics business to JSR Newsham, a U.K.-based farming and swine genetics company. JSR purchased all shares of Cotswold Pig Development Co., associated with Europe. This includes the U.K. operating entity and its German subsidiary.

Ridley will continue to own and operate its North American-based Cotswold Swine Genetics business, which has been positioned to function independently of the divested operations in Europe.

Ridley is headquartered in Mankato, Minn., and Winnipeg, Manitoba.

Total consideration for the European transaction will be $3.1 million, of which $1.1 million will be from the liquidation of residual assets. A total loss on divestiture is estimated at $6 million, including a loss on the book value of the business plus all the associated costs of the divestiture and write-down.

Ridley news release