Catapult and Genetic Solutions merge

3 January 2007

Catapult and Genetic Solutions merge to form Catapult Genetics

Catapult (New Zealand) and Genetic Solutions (Australia), global leaders respectively, in developing sheep and cattle DNA technologies, have merged to form Catapult Genetics.

Catapult Genetics brings together DNA marker research, development and commercialisation for both sheep and cattle. Catapult specialises in sheep technologies while Genetic Solutions specialises in cattle technologies.

Shareholders in the merged company are Meat & Wool New Zealand, AgResearch, CSIRO and Nanyang Innovation Fund, managed by Kestrel Capital and the founders of Genetic Solutions Jay Hetzel and Gerard Davis.

The merger has been welcomed by Jeff Grant, Chairman of both Catapult and Meat & Wool New Zealand.

“This is a significant partnership that pulls together two complementary business operations already delivering leading edge technologies to New Zealand and Australian farmers,” he said.

“Merging these companies gives us a stronger company and increased benefits to sheep and beef farmers in both countries. It opens up to New Zealand farmers new cattle DNA technologies and new sheep DNA technologies for Australian farmers.”

Genetic Solutions Chairman, Mel Bridges said the merger combines leading research and development capacity from Australia and New Zealand which will enable the new company to bring more technologies to the two largest livestock industries in Australasia.

“This merger provides a strong and stable base to develop technologies and get them to the market faster,” he said.

AgResearch Chairman, Rick Christie said DNA technologies were already adding considerable value and transforming decision making in breeding and in livestock value chains.

“Catapult and Genetic Solutions have a track record for delivering advanced genomic technologies to livestock industries and their R&D partnerships will provide substantial pipelines for new products. The merger also gives us for the first time a very clear path to market for our beef genomics work”, Mr Christie said.

Catapult and Genetic Solutions combine international marketing and distribution arrangements that are complementary. Catapult has established business operations in New Zealand, the United Kingdom and Australia. Genetic Solutions has marketing, distribution and testing partners in Australia, Continental Europe, South Africa, and North America.

Mr Grant said farmers on either side of the Tasman were unlikely to notice any change in the way they accessed sheep and cattle DNA technologies.

“The sheep products will continue to be delivered through the Dunedin base and the cattle products will continue from Brisbane. Over time the services will be integrated.

“The future is very positive. Merging the two companies reduces risk and offers more opportunities to grow the business, deliver more DNA technologies and ensure that a strong commercially focussed business emerges from the years of research and development investment.”

ENDS

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