Indianapolis, Indiana
September 30, 2008
Acquisition to expand Dow’s
business in western cornbelt
Dow AgroSciences LLC
announced today it is acquiring the majority of Renze Hybrids
Inc. assets. The addition of the newly formed
Renze Seeds LLC
will build upon Dow AgroSciences’ current seeds business and
will expand its broad range of product offerings. The
transactional close is expected in the near future.
“Renze has an established brand and product portfolio that
strengthens our corn, and soybean business in the Western
Cornbelt,” said Stan Howell, vice president, North America, Dow
AgroSciences. “Furthermore, Renze’s combination of outstanding
customer service and commitment to quality complements our
strategy to build a world class seeds business.”
Under the terms of the agreement, Dow AgroSciences will acquire
all sales, marketing and agronomy assets related to the Renze
brand as well as all soybean production assets. Dow AgroSciences
will continue to independently market seeds under the Renze
brand and product offerings in 2009 will not be affected. Renze
will continue to be headquartered at its existing location near
Carroll, Iowa.
Craig Williams, currently operations manager for Renze, will
remain with the business to lead Renze Seeds as Dow
AgroSciences’ general manager. Tim Renze and Jeff Renze will
serve as consultants to Renze Seeds. In addition, they, together
with their father, Cyril, have formed RenPro Inc., a new seed
corn production company to provide hybrid corn for Renze Seeds.
The Renze business experienced great success under the
leadership of Cyril Renze, 82, with continued growth through
sons, Tim and Jeff. Cyril entered the field of seed production
in 1939 and is one of the industry’s original seedsman. Through
his leadership in industry organizations, such as the American
Seed Trade Association (ASTA) and several state seed
organizations in Iowa, Cyril has helped to build a growing seed
business that improved Midwest farmers’ production and yields.
“We believe the best time to make a move like this is when you
are not forced to do it, and that time is now. I consider this
the opportunity of a lifetime as possibilities of new product
development are almost unlimited,” said Cyril Renze, president
of Renze Hybrids. “Part of our legacy is that we, as a company,
always have been on the forefront of adopting new technology. We
wanted to ensure our customers’ success by continuing to offer
the newest technology and best products in the future. And, our
agreement with Dow AgroSciences ensures access to future
technology and germplasm.”
Renze is the sixth acquisition, including Agromen, MTI, Duo
Maize, Triumph Seed and Dairyland Seed Co., in the last 12
months as Dow AgroSciences builds a global seeds platform. This
combination of companies will provide a strong regional presence
for Dow AgroSciences to commercialize its HERCULEX® Insect
Protection traits, SmartStax™, and Dow Herbicide Tolerance (DHT)
technologies for the benefit of corn and soybean growers.
The Renze mission is to grow our business based on ethical
business practices and our reputation for providing midwestern
corn, soybean and alfalfa growers with the best genetics, traits
and quality possible, thereby improving their profit per acre.
For nearly 70 years, Renze Hybrids has been a preferred supplier
of superior genetics, uncompromising quality and outstanding
service to our customers, the American farmers of the Midwest.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a
top-tier agricultural company that combines the power of science
and technology with the "Human Element" to constantly improve
what is essential to human progress. Dow AgroSciences provides
innovative technologies for crop protection, pest and vegetation
management, seeds, traits, and agricultural biotechnology to
serve the world's growing population. Global sales for Dow
AgroSciences, a wholly owned subsidiary of The Dow Chemical
Company, are $3.8 billion.
HERCULEX® Insect Protection technology by Dow AgroSciences and
Pioneer Hi-Bred.
®HERCULEX is a registered trademark of Dow AgroSciences LLC
™SmartStax is a Trademark of Monsanto Technology LLC. SmartStax
is being jointly developed and registered by Dow AgroSciences
and Monsanto Company
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