Laverton North, Victoria,
Australia
September 25, 2008On 24
September 2008, Nufarm signed an agreement to acquire
Lefroy Seeds Pty Ltd,
based in Toowoomba, Queensland.
Lefroy Seeds specializes in hybrid breeding, production and
commercialisation activities in sunflower and sorghum. The
company has established registrations, sales and commercial
partnerships in Australia, Argentina, South Africa, China,
Pakistan, Thailand, and various countries in Europe.
The acquisition of Lefroy Seeds further supports the Nuseed
strategy of building genetic strength in key crops, developing
global partnerships, and creating value from crop outputs.
Combined with the advancement of Monola™ germplasm, the addition
of the Lefroy business means Nuseed is now well positioned as a
global partner to produce healthy vegetable oils in multiple
countries. High oleic canola and sunflower are quickly becoming
the world standard for food companies and restaurants committed
to the reduction of transfat and saturated fats from their food
labels and menus.
The acquisition involves total consideration of $11.5 million,
the majority of which will be paid in Nufarm equity.
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