JEFFERSON CITY, Mo. (DTN) -- AgriGold, LG Seeds and PRIDE Seeds brands will have new ownership under an acquisition agreement announced late June 27.

GDM, a global plant genetics company based in Buenos Aires, Argentina, with operations in 15 countries and a team of 3,400 employees, announced it would acquire 100% of the shares in AgReliant Genetics, which has provided corn, soybean, sorghum and alfalfa seed in North America.

In a press release, GDM stated the strategic acquisition would "bring together GDM's global scale, long-time reputation for world-class innovation and elite soybean genetics expertise with AgReliant's market leadership in corn breeding and genetics," strengthening GDM's portfolio of high-performing seed solutions for growers and underscoring its commitment to growth in the region.

"The GDM and AgReliant teams share a commitment to helping growers get the highest yield for their fields, and we are excited to welcome them into the GDM family," said Ignacio Bartolome, GDM's CEO. "This acquisition is a significant development for both companies and a major milestone in GDM's growth strategy in North America. It will allow us to serve farmers with an expanded and differentiated high-performance portfolio of solutions and create new opportunities to drive innovation, accelerate business growth and lead both sides of the acres."

AgReliant, headquartered in Westfield, Indiana, was founded in 2000 as a joint venture by KWS and Limagrain. The company holds one of the world's largest North American temperate corn genetic pools and fourth-largest corn research program.

According to the GDM press release, this strategic acquisition, including corn germplasm rights, will enhance GDM's competitiveness in the market. With GDM's leading soybean genetic licensing business and own brands, including Mustang Seeds, Revere and DONMARIO, this expanded footprint enables the company to "offer growers a broader portfolio of solutions while maintaining the company's focus on high performance and collaboration with the entire agricultural chain," the release said.

"Farmers across North America stand to benefit tremendously from AgReliant joining GDM," said Brian Barker, CEO of AgReliant, stated in the release. "Together, we are combining global innovation with local insights to create a more powerful, integrated seed portfolio that delivers greater value to the farmers we serve."

Barker, in an additional statement obtained by DTN, said "The agreement to join GDM unites like-minded, leading seed-focused organizations to enhance abilities to innovate and consistently deliver high-performing products that help farmers tackle an evolving set of agronomic challenges while lifting farm-wide performance. Together, we are committed to spending 100% of our time developing, testing and distributing world-class seed solutions."

When the acquisition is complete, GDM is expected to become the fourth-largest corn genetics provider worldwide. It is currently the global leader in soybean genetics, according to the company press release.

The integration of AgReliant's North American operations will allow GDM to deliver greater choice to farmers, emphasizing its commitment to innovation and performance. As part of the AgReliant acquisition, Barker is expected to become GDM's North American business leader. Philip Chandler, who currently serves as GDM's regional business leader, will continue to oversee GDM's legacy business in the U.S.

"This is a win-win for our teams and the customers we serve in North America, from individual farmers to independent seed companies," Bartolome said. "With this next step in our journey, we are ensuring they can continue to access the world-class genetics, service and long-term partnership they have come to rely on."

GDM's acquisition of AgReliant Genetics is subject to regulatory approvals by the U.S. Federal Trade Commission and the U.S. Department of Justice, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, along with other customary closing conditions and approvals. The two companies will continue to operate as independent entities, maintaining their current business routines and commercial structures, until the necessary approvals and closing conditions are obtained and satisfied, and the transaction has closed.

DTN will continue to report on this acquisition as it develops.

Jason Jenkins can be reached at jason.jenkins@dtn.com

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