DuPont Pioneer and S&W Seed Company announced Dec. 19 an agreement for S&W Seed Co. to acquire DuPont Pioneer alfalfa germplasm, as well as alfalfa production and research facility assets for a purchase price of up to $49 million over a period of several years. The first portion of the sale is expected to be completed on Dec. 31, 2014, pending conditions to close, including financing.
Under the agreement, DuPont Pioneer will continue to sell Pioneer brand alfalfa varieties to customers globally.
“This agreement is another step in the execution of our DuPont Pioneer business growth strategy,” said Paul E. Schickler, president, DuPont Pioneer. “The agreement further enhances our focus on innovative new offerings that drive profitable growth both today and over the long term.”
As part of the transaction, S&W Seed will acquire DuPont Pioneer alfalfa assets at DuPont Pioneer locations in Nampa, Idaho, and Arlington, Wis., and will extend offers of employment to alfalfa research and production employees.
“We’re pleased to acquire DuPont Pioneer’s alfalfa production and research assets to complement our product offerings and research programs dedicated to alfalfa,” said Mark Grewal, chief executive officer, S&W Seed. “We are excited about the opportunities that joining these two operations brings.”
Founded in 1980, S&W Seed is a global agricultural company, headquartered in the Central Valley of California. The company is the largest producer of non-dormant alfalfa seed varieties in the world, with production operations in the San Joaquin and Imperial Valleys of California, as well as in South Australia. The company has worldwide sales and distribution through both a domestic direct sales force as well as dealer-distributors. The company's proprietary varieties are designed to meet the shifting needs of farmers that require high performance in poor and highly saline soil conditions and have been verified over decades of university-sponsored trials. Additionally, the company is utilizing its research and breeding expertise to develop and produce U.S.-based stevia leaf. Stevia is an all-natural, zero-calorie sweetener for the food and beverage industry.
DuPont Pioneer is a world leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere.
DuPont has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders, we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment.