United States cattle breeding company Leachman has sold a controlling interest in the business to URUS Group, the largest cattle breeding company in the world.
Principal Lee Leachman, known in New Zealand and Australia as a source of genetics and for speaking tours, said the proceeds of the part-sale will be used to accelerate genetic improvement.
“While there will be a new ownership structure in place, you can expect the same great bulls, semen and data-related services from Leachman,” he said.
He will continue as chief executive and staff members will all continue in their current roles.
Leachman Cattle of Colorado, its official name, has been breeding for nearly 90 years and now markets more than 2000 cattle a year.
It began in Billings, Montana and moved to Fort Collins, Colorado in 2003 under Leachman.
The main genetics are Angus and a composite called Stabilizer, a blend of Angus, Red Angus, Simmental, Gelbvieh and South Devon.
Rissington Cattle Company in Hawke’s Bay has partnered with Leachman for the past 30 years.
Rissington has Simmental, Angus and a Leachman Stabilizer composite under the name Profit Maker in NZ. It is run by John and Star Absolom’s sons Jeremy, Daniel and Ben.
It also offers cattle data and analytical services based on DNA tests from Leachman called $Profit and Inherit Select.
URUS Group is based in Madison, Wisconsin, and works in dairy and beef cattle breeding and farm management information solutions.
URUS chief executive Paul Hunt said Leachman has the largest private seedstock/commercial cattle database in the US.
“This provides the scale and ability to respond to performance and market signals with genetic improvement at an unprecedented scale and speed,” Hunt said.
“We are excited to bring together our combined expertise and strengths in designing the future of profitable and sustainable beef production for our clients.”