The acquisition will expand Dow's seed business.
CALGARY and BLENHEIM, Ontario -- Dow AgroSciences Canada announced it is acquiring the assets of Hyland Seeds, a division of Thompsons Limited of Blenheim, Ontario. The addition of Hyland Seeds will further expand Dow AgroSciences' current seeds business as the company anticipates the introduction of SmartStax in 2010 and Dow AgroSciences Herbicide Tolerant Trait Technology in corn in 2012. The transactional close is expected in the near future.
"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 Northern U.S. seed industry."
Under the terms of the agreement, Dow AgroSciences will acquire the Hyland brand and the sales, marketing, and administrative areas. The acquisition also includes germplasm, the R&D program with three R&D sites and the corn production facility. Dow AgroSciences will continue to independently market seeds under the Hyland Seeds brand, and Hyland will continue to be headquartered at its existing location in Blenheim, Ontario. John Cowan, general manager for Hyland Seeds, will continue in the same position.
"The entire Hyland Seeds network has worked hard to establish Hyland as the 'northern tier' genetics and trait leader," says John Cowan, general manager of Hyland Seeds. "This new alignment with Dow AgroSciences connects Hyland with a respected global leader and allows us to further strengthen our commitment to bring top genetics and traits to our customers. This alignment is good news for everyone - our customers, our employees and our business."
"From our perspective, it's a solid fit. Dow AgroSciences' commitments to integrity, customer relationships, and innovation have long been an inspiration to us," said Wes Thompson, president for Thompsons Limited. "And, we look forward to continuing to carry the Hyland flag as a dealer."
Further details of the agreement were not disclosed.