Just last week CEO Andrew Liveris said they were going to be “an investor, not a divestor” of Ag assets
Released yesterday:
Dow AgroSciences Canada, a unit of Dow Chemical Corp.’s agricultural products operations, says it is buying the assets of Hyland Seeds, a division of family owned Thompsons Limited of Blenheim, Ont.
Financial terms of the deal, announced Tuesday, were not disclosed.Dow said the transaction will further expand Dow AgroSciences’ current seeds business.
“This acquisition brings together two strong progressive companies with unique strengths and leadership to deliver seed and trait technology to our customers,” said Jim Wispinski, Dow AgroSciences Canada president and CEO.
“Hyland Seeds is a welcomed addition to our seed business. It strengthens the northern tier genetics to benefit Canada and the Northern U.S. seed industry.”
Under terms of the agreement, Dow AgroSciences will acquire the Hyland brand and the sales, marketing, and administrative operations of the company. The acquisition also in-cludes germplasm, research and development sites and a corn production site.
Calgary-based Dow AgroSciences Canada will continue to independently sell seeds under the Hyland Seeds brand, and Hyland will continue to be headquartered at its existing loca-tion in Blenheim.
Dow AgroSciences LLC, based in Indianapolis, Ind., is a wholly owned subsidiary of The Dow Chemical Company, and has annual sales of $4.5 billion. Dow Chemical is one of the world’s largest producers of plastics and numerous other industrial chemicals.
Its Canadian unit, Dow AgroSciences Canada, has a corn breeding centre in St. Mary’s, Ont. and a canola discovery and breeding farm in Saskatoon.
Dow Ag has made a series of these types of deals picking up seed companies to expand their footprint in the arena. It is a great strategy as one thing we can be sure of, the population and its need for food ought not fall anytime soon….if ever.