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Genus acquires Brazilian bovine IVF firm

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Cow breeder Genus (LON:GNS) unveiled a deal to acquire a controlling stake in a Brazilian business focused on bovine in-vitro fertilisation (IVF).

Genus is paying £4.3mln in cash to acquire a 51% stake in Vitro Brasil, and it has the option to acquire the other 49% in the first half of 2018.

The company says Brazil is the world’s largest bovine IVF market, and Vitro Brasil has a leading position in the country.

It adds that the acquisition will help Genus accelerate ‘genetic improvement’ for its customers.

"The acquisition of IVB provides Genus with a significant opportunity to accelerate the rate of genetic improvement we are able to offer our customers,” said chief executive Karim Bitar.

“IVB's proven success in delivering IVF solutions to commercial dairy and beef producers will enable us to offer our extensive customer base the ability to leverage genetic improvement on both the male and female side of their herds through superior in-house technology."

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Price: 3322 GBX

LSE:GNS
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Market Cap: £2.16 billion
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