October 29, 2013
Limagrain has announced today that it has completed through its holding company Vilmorin & Cie the acquisition of Eureka Seeds Inc., based in Woodland, California.
This privately held company founded in 1997 by its owners, Ken Scarlett and Craig Sharp, specialized in the production of hybrid sunflower seeds contracting with local growers in Sacramento Valley where 95% of hybrid sunflower seeds grown in the United States are produced. The Sacramento Valley is one of the most reliable and competitive regions in the world for that production.
Eureka Seeds also has an important field seeds activity of distributing corn, alfalfa and sorghum seeds in the western United States
This acquisition will enable Limagrain to diversify its procurement sources, to increase its potential and spread risks, while supporting its strong growth in the global sunflower seed market.
The field seed business of Eureka Seeds will become part of the AgReliant Genetics organization. AgReliant Genetics, the third largest seed corn company in North America, is a joint venture between the France based Limagrain and the German company KWS.
Ken Scarlett commented: " We are very proud to announce this next phase in the development of Eureka Seeds said Ken Scarlett. Limagrain and AgReliant are a great fit for our company and will provide the resources to expand both of our businesses in the future. We see this as a great benefit for our employees, customers and seed growers."
Emmanuel Rougier, Deputy CEO of Limagrain added “In today’s seed industry, performance comes from a combination of leadership in global functions like Research with operational excellence at the local level for functions like Seed Production. We see the remarkable performance of Eureka in its Sacramento Valley environment for hybrid seed production as a strong asset in the future development of our Sunflower business”
”AgReliant Genetics is pleased to welcome Eureka Seeds to join our growing Company. Eureka Seeds is the #3 Seed Corn Company in California and will be an excellent addition to increase our presence in the western part of the U. S.,” stated Craig Newman, President and CEO of AgReliant Genetics.
Vilmorin & Cie develops vegetable and field seeds with high added value, to better meet global food requirements. Accompanied by its reference shareholder, Limagrain, an international agricultural cooperative group, Vilmorin & Cie is currently the fourth largest seed company in the world. True to its vision of sustainable development, Vilmorin relies on ongoing investments in research and international growth to strengthen its market shares on international markets that continue to expand. An ambition that is driven by its corporate culture which is based on the sharing of knowledge, quality of life and respect for the needs of mankind.
Headquartered in Westfield, Ind., AgReliant Genetics is an innovative seed company committed to delivering high quality seed, providing exceptional service and creating consistent customer value. Created in 2000 as a joint venture between the international seed groups KWS and Limagrain, AgReliant Genetics is ranked as one of the largest field seed companies in North America. AgReliant Genetics markets corn, soybean and alfalfa seed through six brands: AgriGold®, Great Lakes® Hybrids, LG Seeds®, Producers Hybrids®, Wensman Seed® and PRIDE Seeds®. The service marks and trademarks mentioned herein are registered trademarks of AgReliant Genetics, LLC or its affiliated entities.
Verdant Partners initiated and advised Eureka Seeds, Inc. in this transaction.
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