Developments

Landcorp Farming Ltd. is now sole owner of livestock genetics business, Focus Genetics. The announcement comes after Landcorp successfully acquired the remaining 33% shareholding from Rissington Breedline. Hawkes Bay based Focus Genetics is New Zealand’s largest red meat genetics business with 17 breeding partners throughout New Zealand. Formed in 2011, Focus Genetics has since grown its market share, serving more than 750 commercial farm operations. Last year the company sold over 4,000 rams, 800 bulls and 400 stags to farmers in New Zealand and overseas. Gavin Foulsham, Focus Genetics CEO, said having one owner provided certainty for the company’s plans to invest more towards achieving greater rates of genetic improvement. It also means Focus could explore more sales opportunities offshore. “We’ve continued to build off our very strong genetic base, focusing on the traits that deliver better performance for New Zealand farmers. “This deal means we can better leverage Landcorp’s market presence to develop new partnerships and customers. It puts us in an excellent long term position to continue investing in research and development for the benefit of all New Zealand farmers. That investment will assist with generating further income from offshore markets like Britain, Australia and South America,” he said. Focus Genetics have recently introduced a new programme to better identify bulls that will produce offspring with better marbling capabilities, a feature that meat companies pay a premium for. They have also signed an agreement with UK meat processor St Merryn, where UK farmers who provide Focus Genetics sired lambs are paid a premium. Under the terms of the settlement, Focus Genetics will remain a wholly independent company and will continue running breeding programmes for all commercial farmers in New Zealand. Landcorp Chief Executive, Steven Carden, said the acquisition was vitally important to Landcorp’s strategy to boost returns from […]