Slater, Iowa
January 24, 2000
Garst Seed Company and
Gutwein Seeds have reached an agreement in which Garst will
purchase the retail marketing and distribution network of Fred Gutwein & Sons, Inc. and their Gutwein Seeds
brand. The purchase will provide Garst with access to a large group of
high-quality and courteous farmer sales representatives and agribusiness
retail centers primarily in the eastern parts of the Corn Belt. Financial terms of the agreement will not be released.
"The eastern regions of the Corn Belt represent an area for some
significant growth in total sales volumes," explains Col Seccombe, President and CEO
of Garst Seed Company. "Fred Gutwein and Sons, Inc. and Gutwein Seeds are
very well respected in the seed industry and we are looking forward to them
becoming part of the family of companies that sells and markets Garst seed
products."
For the 2000-2001 sales year, Garst products will be introduced into the
Gutwein sales programs, including Garst's G-STAC seed technology. The current management of Gutwein will
continue to run the business in coordination with and guidance from the
Garst management team. "This agreement will allow Garst to continue its growth and expansion
within its key corn and soybean seed business," says Seccombe. "Additionally,
Gutwein customers and the Gutwein sales force and distribution network
will be able realize the benefits that Garst can provide because of its large
research effort and its economy of scale."
Eric A Gutwein, President and CEO of Fred Gutwein and Sons, Inc. says
"This agreement will allow our customers access to the newest technologies in
the seed industry both from traditional genetics and biotechnology. Also
people are our most important asset. We will now have a very talented Garst
group available to compliment our sales efforts."
Founded in 1936 by an Indiana farmer, Fred Gutwein, Fred Gutwein & Sons,
Inc. has grown to become one of North America's Leading independent producers of hybrid seed corn, special market hybrids, soybeans and
alfalfa. Gutwein Seeds is based in Francesville, Indiana and management of the
Gutwein sales force will continue from this location. The company was founded on integrity and commitment to excellence..."Don't
put a seed in a bag to sell that you wouldn't plant yourself". Those early
words of advice from Fred Gutwein to his sons became the cornerstone for
high standards of quality and the rigid discipline of product research and
testing that have made Gutwein seeds the farmer's choice throughout much
of the Midwestern United States.
Garst is a recognized leader in the development and production of
traditional and multi-trait corn hybrids, technology-enhanced soybean varieties, grain sorghum and alfalfa. With corporate and research
headquarters in Slater, Iowa, Garst is the largest member of the Advanta
Group of seed companies, which ranks as one of the top five seed companies
globally.
Company news release
N2423 |