DLF Seeds have announced that an agreement has been reached to
acquire PGG Wrightson Seeds.
With DLF recognised as a leading seed player in the Northern
hemisphere, and PGG occupying a similar position in the south, the combined
business is seen as a significant strategic leap towards a significant global
presence.
PGG Wrightson Seeds is an international market leader within
forage and turf seeds, responsible for many of Europe’s top-rated bent grasses
including Manor and Arrowtown, with activities in New Zealand, Australia,
Uruguay, Argentina and Brazil.
With DLF operating complementary business in terms of market
coverage and distribution capabilities, the combined business will allow for
continued investments at the highest level, to offer end-users better seed
solutions through research and plant breeding.
DLF Chief Executive Truels Damsgaard said: “The world is changing
ever faster with new plant breeding technologies offering quicker and better
tailored solutions to diverse amenity conditions. To stay ahead of the
competition, it is of utmost importance to gain scale in your business, to
support biotechnology while minimising timescales and risk.
"With this acquisition DLF not only achieves such scale, we
also gain a strong supply chain and market coverage in the Southern Hemisphere,
which positions DLF uniquely in the global forage and turf seed space.”
PGG Wrightson Chief Executive Ian Glasson added: “The seeds
business will benefit from being part of a truly global company with a
diversified offering.”
The transaction remains subject to regulatory approvals and is
expected to close within six months.
