Hot off the presses is today’s talking news release from Landec Ag.
LANDEC AG, INC. ACQUIRES SECOND LARGEST DIRECT MARKETER OF SEED CORN
HEARTLAND HYBRIDS TO JOIN FORCES WITH FIELDER’S CHOICE DIRECT
MENLO PARK, CA – June 30, 2005 – Landec Corporation (Nasdaq: LNDC), a developer and marketer of technology-based polymer products for food, agricultural and licensed partner applications, announced today that its agricultural seed subsidiary, Landec Ag, Inc., has acquired Heartland Hybrids, Inc., the second largest direct marketer of seed corn. Landec Ag, through its Fielder’s Choice Direct® brand, is the leading direct marketer of seed corn.
Under the agreement, Landec Ag will acquire the assets of Heartland Hybrids, which is based in Dassel, Minnesota. The agreement is expected to close before the end of August 2005.
Tom Crowley, Landec Ag’s President and Chief Executive Officer, says the acquisition of Heartland Hybrids solidifies Landec Ag’s market position in the direct-to-the-farm sales channel for agricultural seeds. . .
. . . Heartland Hybrid’s President, Jay Asplin, agrees that the agreement will be a great benefit for farmers. “We really believe the acquisition of Heartland Hybrids by Landec Ag is only going to enhance our ability to bring greater value to our customers. By combining both of our brands together, both of our companies, under the Landec Ag ownership, we’re really going to strengthen our ability to bring farmers across the country the opportunity to buy seed at a great value.” (full release)
For more information contact Bill Gass, Vice President of Marketing, (574) 583-2741 ext.107.