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Canada's PSP fund acquires stake in animal-tag maker Allflex

Published 2016-06-10, 10:00 a/m
© Reuters. Canada's PSP fund acquires stake in animal-tag maker Allflex

TORONTO, June 10 (Reuters) - PSP Investments, one of
Canada's biggest pension funds, said on Friday it had acquired a
significant minority stake in Allflex Group, the world's biggest
maker of electronic tags for animals, from private equity firm
BC Partners.
Allflex grew from being a low-tech maker of plastic ear tags
for cows to a world leader in high-tech labelling after the
European Union tightened food traceability rules in 1998 in the
wake of the Bovine Spongiform Encephalopathy (BSE) crisis, known
as "Mad Cow disease."
Subsequent crises, including a 2001 foot and mouth disease
outbreak in Britain, led to tighter supervision of how livestock
is sourced and tracked in Europe, North America and Australasia.
"Allflex is a high-quality, fast-growing industry leader
with a unique market position," Guthrie Stewart, global head of
private investments at PSP, said in a statement.
BC Partners had purchased the business from private equity
rival Electra Partners for $1.3 billion in 2013.
Financial details of the transaction were not disclosed.


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