American Seeds Inc. is a subsidiary of Monsanto that has - since its inception in 2004 - been acquiring smaller family seed firms. The company announced today it is acquiring five regional brands in separate transactions.
ASI acquired the seed and sales businesses of Diener Seeds, Reynolds, Ind.; and Sieben Hybrids, Geneseo, Ill. ASI also entered into agreements to acquire Kruger Seed Company, Dike, Iowa; Trisler Seed Farms, Fairmont, Ill.; and the seed marketing and sales business of Campbell Seed, Tipton, Ind., on July 1, 2006. The five companies serve farmers throughout the central and eastern Corn Belt.
In a press statement, Ernesto Fajardo, vice president of Monsanto's U.S. crop protection business, comments: "ASI's growth over the last year serves as a true testament to Monsanto's pioneering research in breeding and biotech, as well as the benefits that these platforms are generating for regional seed companies and, in turn, their farmer customers."
Monsanto is acquiring these businesses in cash transactions aggregating approximately $77 million. The specific terms of the individual transactions were not disclosed. Collectively, these five seed companies represent approximately 1.4 percent and 2.0 percent of total U.S. corn and soybean seed sales, respectively.
You can learn more about ASI at www.AmericanSeedsInc.com.