We want to inform you that on Monday, September 23, Genus PIG and the Aliments Breton Foods Group announced that they have signed an agreement for the sale of Aliments Breton's porcine genetics business, Genetiporc, to Genus PIC. We expect the transaction to close in mid-October after which the Genetiporc operations will start to become integrated with the operations of PIC, Genus' global porcine genetics business.
We believe this acquisition combines two highly respected, customer-focused porcine genetics players. The acquisition will provide the opportunity to combine PIC and Genetiporc's technical expertise, supply chains, and genetic pools. The combined organization will be able to widen the range of leading products and services available to all customers. It will further provide great opportunities for supply chain partners of both PIC and Genetiporc. We are looking forward as a combined organization, to deepening our relationship with you as our valued customer or partner. No immediate changes to genetic programs will occur and the parties will honor all existing contracts.
Our first priority is to ensure a successful integration of the businesses and provide seamless, continuous support for you We personally want to assure you that our dedicated employees will remain focused on your needs and continue to provide exemplary services. We will stay in close contact with you over the coming days and weeks to provide further information and address any questions you may have.
In the meantime, please continue to work with your contact at Genetiporc and reach out to them with any questions.
From all of us here at Genetiporc, we would like to thank you for your business and support. We value the opportunity to continue to work with you now and in the future. We are committed to working diligently to expand the value that we bring,
With best regards,