Paine Schwartz and its affiliated co-investors will hold 50% ownership in the company. Hendrix Genetics’ co-founders, Thijs Hendrix and Antoon van den Berg, will also maintain a 50% ownership position.
The investor said its stake in Hendrix is in line with its track record of partnering with family or founder-owned companies, as well as investing in the upstream sustainable food chain segments of genetics and animal health and nutrition, which includes companies such as SNFL, Advanta, Seminis, Verisem and Axiota Animal Health.
Hendrix Genetics’ management team, led by CEO, Jolanda van Haarlem, will continue operating the business. Investment firm, NPM Capital, a shareholder in Hendrix since 2015, will sell its minority interest as an integral part of the deal.
Financial terms of the transaction were not disclosed.
Founded in 2005 and headquartered in Boxmeer, The Netherlands, Hendrix Genetics has around 3,500 employees and operations in more than 25 countries.
It has breeding programs in poultry, swine, salmon, trout and shrimp, while its portfolio consist of 15 brands including Hybrid, ISA, Dekalb, Bovans, Shaver, Babcock, Hisex, SASSO, Hypor, Kona Bay, Troutlodge and Landcatch.
Co-founder, Thijs Hendrix, commented: “Following NPM Capital’s investment in 2015, this new investment from Paine Schwartz will help us to further accelerate growth through expansion into new markets and sustain our leadership in technology and R&D. In Paine Schwartz, we are also gaining a partner that brings expertise in genetics and animal health and a shared commitment to addressing the needs for sustainable food chain solutions.”
The transaction is expected to close by the end of the first quarter of 2022, subject to regulatory approval and customary closing conditions.