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Dow AgroSciences Announces Agreement to Acquire Brodbeck Seed
Acquisition to Expand Dow’s Seed Business in Eastern Cornbelt Indianapolis, IN - November 06, 2008 Dow AgroSciences LLC announced today it is acquiring assets of Brodbeck Seed Inc. of Wabash, Ind. The addition of the newly formed Brodbeck Seeds LLC will build upon Dow AgroSciences' current seeds business and will expand its broad range of product offerings. Financial terms of the agreement were not disclosed. "Over the past few decades, Brodbeck Seed has developed an excellent reputation in Indiana and surrounding areas for providing new technology through its product development programs, high yielding quality products and excellent service to customers," said Stan Howell, vice president, North America, Dow AgroSciences. "We are very pleased to have them represent Dow AgroSciences' technologies to customers in the Eastern Cornbelt." Under the terms of the agreement, Dow AgroSciences will acquire all sales, marketing and agronomy assets and the product development program and associated assets. Stan Leland, president of Brodbeck, will remain with the business to lead Brodbeck. Doug Rice will serve as the financial and marketing manager, and Mike Coomer will continue to lead the research and development activities. Current Brodbeck owned production and distribution assets will be operated by Advanced Ag Resources, Inc. and Accelerated Ag Distribution, LLC, respectively. Both companies will be led by Robert Hettmansperger. Dow AgroSciences will continue to independently market Brodbeck Seeds under the Brodbeck brand, and the company headquarters will remain in Wabash, Ind. "Our goal was to find a partner that had the same fundamental business philosophies as we have at Brodbeck," said Stan Leland, president of Brodbeck Seed. "These philosophies include providing the best possible genetics and traits to our customers and potential customers in our marketing area. We feel with the support of Dow AgroSciences and the reputation the Brodbeck brand has established over the last 75 years, together, we can compete in this ever changing market place." Recent seed company acquisitions by Dow AgroSciences, together with Mycogen Seeds, will enable Dow AgroSciences to commercialize its HERCULEX® Insect Protection traits, SmartStax™, and Dow Herbicide Tolerance (DHT) technologies for the benefit of corn and soybean growers. About Brodbeck Seed Brodbeck Seed is a strong independent seed company supplying elite genetics and all major traits for corn, soybeans and wheat. It markets to growers and dealers in Indiana, Ohio, Michigan, and Northern Illinois. Brodbeck Seed heritage extends to 1934, and has been marked by bringing innovation to eastern cornbelt farmers. In 1999, Stan Leland and Robert Hettmansperger bought the company bringing new ideas and growth. This included adding outside salesmen and the initiation of a research program. Recent acquisitions of two area seed companies has extended this evolution...creating products backed by science, bred to yield for your success. About Dow AgroSciences 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. Learn more at www.dowagro.com HERCULEX® Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. ™SmartStax is a Trademark of Monsanto Technology LLC. SmartStax is being jointly developed and registered by Dow AgroSciences and Monsanto Company For Editorial Information:
Robyn Heine |
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