Northstar Seed Ltd., based at Neepawa, Manitoba, has signed a deal to be bought by Germany-based, Deutsche Saatveredelung AG (DSV).
Founded in 1982 by a group of alfalfa seed producers, Northstar Seed specializes in the production, marketing, and distribution of forage, turf, cover crops and native grass seed, as well as leafcutter bees and equipment.
DSV, a plant breeding and seed company with over 700 employees world-wide, is also co-owner of DL Seeds, a canola and pulse crop breeding company based near Morden, Manitoba.
The acquisition, which includes 100 per cent of the shares in Northstar, was signed April 7, and is expected to close within the coming months.
“With DSV becoming the new shareholder of Northstar Seed Ltd., we are certain that we can expand our business worldwide — a true win-win situation for both companies” noted Don Pollock and Rob Wolfe, founder and managing director of Northstar Seed, in a statement.
Through this acquisition, DSV will not only be managing its own seed multiplication areas in North America, but also gaining access to the Canadian, as well as the North and South American retail markets, thus enlarging its footprint into the Americas significantly.
The purchase price was not disclosed.