Takeover expected to accelerate innovation in fresh produce varieties, as well as reinforcing EW Group’s commitment to sustainable agriculture
Plant genetics company Planasa has agreed a deal to acquire Illinois Foundation Seeds Inc (IFSI), a leading R&D player in vegetable breeding.
Planasa, which is part of the German family-owned holding EW Group, mainly specialises in developing new berry varieties, but also offers experience in the development of garlic, asparagus, and avocados.
The takeover is expected to accelerate innovation in the global agricultural sector, and to reinforce EW Group’s commitment to sustainable agriculture by extending its business activities in plant, poultry, and aqua genetics.
According to a press release, IFSI will maintain full operational independence under its current management team.
However, joining EW Group’s plant breeding operation will also provide the US company with “new resources and global reach” that will help it to grow and innovation further, the statement said.
“We are very proud to announce this agreement with IFSI,” said Planasa chief executive officer Michael Brinkmann. “Their expertise and leadership in vegetable genetics complement our vision of becoming a global reference in plant genetics.”
IFSI’s own CEO, Clinton Naugle, commented: “For IFSI, entering into this agreement with Planasa and EW Group means gaining a solid long-term partner who fully respects our culture and our team.”
The acquisition is subject to customary regulatory approvals and is expected to be completed in the coming months.
Planasa currently employs more than 4,000 people worldwide, with operations in 25 countries across Africa, America, Asia, and Europe, including six R&D centres sited in Spain, France, Mexico, Germany, the Netherlands, and the US.
It has registered more than 225 varieties, and is said to produce over one billion plants per year, from nurseries spanning more than 1,500ha across Spain, US, China, Peru, Mexico, Morocco, Poland, and France.
