Monsanto Company’s American Seeds, Inc. Announces Two Strategic Acquisitions To Support Locally-Oriented Business Model
Published: Mar 01, 2006
ST. LOUIS, March 1 /PRNewswire-FirstCall/ — Monsanto Company’s American Seeds, Inc. (ASI) subsidiary announced today it made two strategic additions to its family of regional brands. The additions are expected to further bolster ASI’s ability to help serve its farmer-customers with a technology-rich, locally-oriented business model.
In separate transactions, ASI acquired Gold Country Seed, Inc., based in Hutchinson, Minn., and Heritage Seeds, based in Rensselaer, Ind. Gold Country Seed, Inc. serves farmers in the northern Corn Belt. Heritage Seeds serves farmers in the eastern Corn Belt.
“These companies are important additions to our ASI business model and our continued support of farmers,” said Ernesto Fajardo, vice president of Monsanto’s U.S. crop production business. “ASI represents a distinct, high- touch, regional approach to the marketplace. We look forward to enabling these regional companies to bring greater germplasm and trait innovation to their local markets than ever before.”
Dennis Plummer, ASI president, welcomed both Corn Belt companies’ commitment to serving farmers. “These companies have a strong track record of serving their farmer customers and delivering high-quality products,” said Plummer. “We look forward to working with these companies and supporting their commitment to deliver the newest technology in the best germplasm.”
Monsanto acquired both companies in cash transactions totaling $8.7 million. The specific terms of the individual transactions were not disclosed. Collectively, these two companies represent approximately 0.4 percent of total U.S. corn and soybean seed sales.
American Seeds, Inc. (ASI), which was formed by Monsanto in 2004, serves as a holding company for regional seed companies that market primarily corn and soybeans. ASI provides support for these regional seed businesses with capital, genetics and technology investments. These investments allow the operating companies of ASI to more directly connect their customers to significant innovations in genomics-based breeding and other new technologies while continuing to operate autonomously and locally, providing great services to their customers. For more information on ASI, see: http://www.americanseedsinc.com .
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information, please visit the company’s web site at http://www.monsanto.com .
CONTACT: Lori Fisher of Monsanto Company, +1-314-694-8535
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