New Era For Seed Force With RAGT Semences Purchase
Cornerstone shareholder and international seed powerhouse RAGT Semences has entered into an agreement to acquire the remaining shares in New Zealand company Seed Force Ltd (SFL) and Australian subsidiary Seed Force Pty Ltd (SFPT).
As a result, Seed Force will become a subsidiary of RAGT.
For RAGT, this will create a truly global seed company and provide it with a strong presence in the Southern Hemisphere.
Bruce Garrett, Managing Director, Seed Force Ltd, said that since the company’s inception in 2006 and the signing of the joint venture partnership, it has always been the goal to create a true global company.
“This will help us strengthen and develop our presence in New Zealand and Australia.
“Integral to this expansion will be RAGT’s scope and ability to fully exploit opportunities in pasture, forage, broadacre and soil health markets and expand exposure for the full range of its breeding portfolio spanning 32 species,” he said.
RAGT now has 19 subsidiaries across the world and 17 research stations, being active in over 50 countries worldwide. It has over 100 years of experience.
With this transaction, SFL will acquire 100% of the shares in SFPL, and Joordens Zaden BV, the Netherlands-based 100% subsidiary company of RAGT, will acquire 100% of the SFL shares. This means SFPL becomes a subsidiary of SFL and SFL becomes a subsidiary of Joordens.
“For Seed Force, this is a new chapter providing confidence that we will continue to introduce next generation products as well as those that the market has come to know and trust such as SF Greenly II, SF Hustle, SF Moxie, SF Sultan, SF Indulgence, SF Brigadier and RGT Planet barley.
“Since launching, Seed Force has built a reputation and market position as a strong supplier of proprietary genetics. Not only will this continue, but now RAGT completes our vision to see globally competitive R&D programmes developed for the benefit of New Zealand producers.
“I wish to acknowledge Peter Bosworth, of Armillary Private Capital, who advised RAGT and the New Zealand and Australian shareholders on the transaction. His understanding of the agribusiness sector was important in advising the shareholders,” Bruce Garrett said.
There will be no change in staff numbers or responsibilities and the company will still continue to trade under the Seed Force name in New Zealand and Australia.