Genus PLC
19 May 2004
For Immediate Release 19th May 2004
GENUS plc
PROPOSED ACQUISITION
Genus plc, the World leading Bovine Genetics Company, announces that agreement
in principle has been reached to acquire the business, assets and certain
liabilities of Supersires Ltd. The acquisition is subject to the satisfactory
completion of due diligence, contract and approval from the Office of Fair
Trading. Supersires distributes semen and provides artificial insemination
services to cattle farmers in Somerset, Devon and Cornwall. In the year ended
31st March 2004 it had a turnover of £1.9m. Supersires distributes bull semen
principally supplied from French and German co-operatives.
Commenting, Richard Wood, Chief Executive of Genus, said:
'The acquisition of Supersires is important for Genus as it provides an increase
in presence in the cow dense South West of England and considerable synergy
potential from product substitution'.
Contact:
Richard Wood, Chief Executive, Genus plc 01256 347101
David Timmins, Group Finance Director, Genus plc 01256 347102
Charles Ryland/Catherine Miles, Buchanan Communications 020 7466 5000
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