Dow AgroSciences LLC (DowAgro) announced Tuesday, July 14 that it is acquiring the majority of the Illinois-based corn company Pfister Hybrids’ assets.
In its press release of the acquisition, DowAgro, which is a subsidiary of The Dow Chemical Company and is based in Indianapolis, IN, stated that its purchase of the Pfister Hybrid brand means the company will assume control over Pfister Hybrid’s sales, marketing, warehousing, and administrative services. To view a copy of the press release click here.
Currently, DowAgro has no plans to do away with the Pfister Seeds brand, and in fact will continue to market seeds under the Pfister name. Additionally, as Erika Smith reports in the Indianapolis Star, the headquarters of Pfister will remain in El Paso, Ill. To read the Indianapolis Star article click here.
The acquisition is aimed to grow DowAgro’s presence in the Mid-West and comes at time when DowAgro is preparing for the release of two new seed products by 2010. As stated in the press release,
the company anticipates the introduction of SmartStax™ in 2010 and Dow AgroSciences Herbicide Tolerance (DHT) technology in corn in 2012. The transactional close is expected in the near future.Posted: 07/16/09
