State-owned farming enterprise Landcorp has announced the takeover of New Zealand's largest red meat genetics business.
It is now the sole owner of Hawkes Bay firm Focus Genetics, after it acquired the remaining 33 percent shareholding from Rissington Breedline.
A sheep undergoing scanning. Photo: SUPPLIED
Formed in 2011, Focus Genetics now has 17 breeding partners throughout New Zealand and serves more than 750 commercial farm operations.
Chief executive Gavin Foulsham said the end game for the company remains the same.
"The main thing from Focus' point of view, for our customers in New Zealand, is that it's business as usual.
"This is a change in ownership, but the strategy we set in place continues and we're very focused on trying to deliver the genetic package for New Zealand farmer to make their operations more profitable.
"Farmers are looking to produce a quality, consistent product for consumers and so our genetic selection is focused both on those production traits increasing the amount of kilograms of beef or lamb per hectare, but also making sure there's a quality eating experience for the end consumer," he said.