NEW GLOBAL MULTI-SPECIES AQUACULTURE COMPANY FORMED

PRESS RELEASE

Boxmeer, NL-EU; Ormsary, UK; & Tacoma, WA, USA

Date: October 2014

• Leading UK and US aquaculture companies complete landmark agreement
• Landcatch, Troutlodge and Hendrix Genetics start integration process
• Move will create new Chile venture, jobs and worldwide aquaculture advances

Pioneering Scottish company Landcatch, which supplies Atlantic salmon eggs and smolts, as well as cutting-edge genetic services to the international aquaculture industry, has signed an agreement to become a 45 per cent shareholder in Seattle-based Troutlodge Inc, the world’s largest rainbow trout egg producer.

An integration process is underway following the conclusion of the deal between the two world leading aquaculture companies that will lead to them expanding their share of the Atlantic salmon and rainbow trout markets.

The companies signed a Memorandum of Understanding in August and have now announced completion of the significant deal that will enhance the aquaculture operations of Landcatch parent company Hendrix Genetics.

Under the terms of the deal, Landcatch will diversify into a new species for the first time and enhanced support will be provided to support the growth of Troutlodge.

The deal also includes-

• A joint venture (JV) that will see a new company, Landcatch-Troutlodge Chile SA, being formed to establish an independent Atlantic salmon breeding programme, backed by genetics research. It aims to capture a substantial market share of salmon eggs in Chile within 3-5 years.
• Troutlodge Chile SA’s existing trout egg production and supply operation will be developed and expanded. It is also planned to develop a pedigree coho salmon programme to service the Chilean industry. With all three species combined, it is expected that the employment will grow significantly.

• A Genetics Support Agreement (GSA) that will ensure all Troutlodge breeding programmes will now be supported by Landcatch and Hendrix Genetics, combining pioneering genetic technologies transferred from the salmon and livestock industries with Troutlodge’s decades-long genetic improvement programme.

Neil Manchester, Managing Director of Landcatch, said: “We are delighted this major and exciting deal has now been concluded and we can now begin the integration process to bring together three world-leading companies with the goal of becoming one of the main global players in salmon and trout.”

Steve Brown, CEO of Troutlodge Inc, said: “The collaboration with Landcatch and Hendrix Genetics will bring significant benefits to all three companies and to our customers with the use of advanced technologies to produce better and healthier fish.”

Antoon van den Berg, CEO of Hendrix Genetics, added: “This is a key investment for us in developing our aquaculture business and enhancing our position in the global market. By collaborating with Troutlodge we can make further advances in salmon and trout production that will have widespread benefits.”

Troutlodge is one of the oldest aquaculture companies in North America, having been in the business for nearly 70 years and employs over 110 individuals worldwide.  Troutlodge is the world's largest producer of pathogen-free rainbow trout eggs, annually selling nearly a half billion eggs in over 50 countries.  Troutlodge eggs are available on a year-round basis and superior performance is achieved by using genetic technologies to achieve continual improvement.  Troutlodge operates 15 hatcheries located in the United States, the Isle of Man and Chile.  The Isle of Man hatchery produces trout eggs for Europe and the Middle East.  The Chilean operation began in 1996 and produces  salmon and trout eggs, fry and smolts which are sold to salmonid producers throughout Chile. 

www.troutlodge.com

Landcatch, based at Ormsary in Argyll, operates four freshwater tank sites in Scotland, producing up to 4.5 million smolts annually, plus a land-based seawater site for brood fish, producing up to 40 million eggs. It is renowned for its genetic advances and use of selective breeding to develop strains of salmon which can perform to ever higher levels at every stage of production from eggs to adult fish. It has also helped develop genomic selection technologies and later this year will make available for sale for the first time salmon eggs with improved resistance to sea lice.

www.landcatch.co.uk

Hendrix Genetics BV, headquartered in Boxmeer, NL-EU, is a leading multi-species breeding company with primary activities in layer, turkey, pig, aquaculture  and traditional poultry breeding. The company is dedicated to generating solutions for the animal protein sector that solve the challenges of today and those of tomorrow. Backed by a strong portfolio of leading brands, Hendrix Genetics provides expertise and resources to producers in more than 100 countries, with operations and joint ventures in 24 countries and more than 2,400 employees worldwide. With respect and care for people, animals and the environment, Hendrix Genetics is ready and dedicated to delivering better breeding today, for a brighter life tomorrow.

www.hendrix-genetics.com

ENDS

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