MML Ireland exits its investment in IdentiGEN

August, 2020

MML Ireland exits its investment in IdentiGEN

MML Ireland announces the sale of IdentiGEN, a leader in DNA based animal traceability solutions for livestock and aquaculture, to MSD Animal Health, a division of Merck & Co.

MSD Animal Health is acquiring 100% of the shareholding in IdentiGEN from MML Ireland and the company’s management. Specific terms of the agreement are not being disclosed.

Headquartered in Dublin, IdentiGEN was founded by Ciaran Meghen and Ronan Loftus. The Company has operating facilities in Europe, the United Kingdom and North America. IdentiGEN’s DNA Traceback platform is in widespread use by major retailers, foodservice providers and processors to pro-actively manage the supply chain. MML Ireland invested in IdentiGEN in April 2015 acquiring a majority stake and funding the Company’s growth strategy.

IdentiGEN’s technology combines each species’ DNA with data analytics to provide an evidenced based animal traceability solution, to accurately and precisely trace beef, seafood, pork and poultry that is verifiable from farm to table. Food producers, processors and retailers are looking for accurate and complete animal traceability solutions that provide full accountability as well as greater transparency, quality and sustainability for consumers.

Neil McGowan, Partner and Co-Head of Investments with MML Ireland, said:

“In so many respects, the investment in IdentiGEN is a case study of our investment strategy. Five years ago, IdentiGEN was a high-quality company, focused on a growth sector, with a strong management team which required investment backing to enable the business to realise its potential. The team at IdentiGEN has used the investment astutely and has built out the business through pioneering science and technology in food traceability and safety. IdentiGEN’s acquisition by MSD Animal Health is a natural step for the business at this juncture.”

Ciaran Meghen, co-founder of IdentiGEN, said:

“MML Ireland invested at a pivotal moment for us as we were opening new markets and scaling the business. We had belief in ourselves and confidence in the opportunity however the investment and the added experience of MML Ireland gave us the scope to broaden our reach and drive growth.”

Ronan Loftus, co-founder of IdentiGEN, added:

“We are now excited to be joining MSD Animal Health, a global leader in our sector. We look forward to working closely with our new colleagues to build on what has been achieved to date.”