Seed company sold
Seed company sold
Dec 12, 2011 (Agweek Magazine - McClatchy-Tribune Information Services via COMTEX) -- BRECKENRIDGE, Minn. -- After 40 years, Jay Schuler of Breckenridge, Minn., no longer is owner of a hybrid planting seed company -- again. He and long-time associate Gerhardt "Gary" Fick have sold plant breeding company to an international player for the second time in their lifetimes.
Schuler, Fick and their financial partners together have sold SEEDS 2000 to NuSeed, a wholly owned subsidiary of Nufarm, of Melbourne, Australia. The parent company is publicly traded on the Sydney (Australia) Stock Exchange. The transaction was official on Nov. 30.
Nufarm Ltd. announced the acquisition price of $55.2 million. NuSeed already had sunflower breeding and marketing operations in California, Argentina and Australia before the purchase. Nufarm also recently acquired Super Seeds sunflower company in Serbia and had some existing U.S. investments in canola and sorghum.
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