Nufarm acquires 51 pc stake in Brazilian seeds firm

Nufarm acquires 51 pc stake in Brazilian seeds firm

9:21 AM, 4th February 2013
Nufarm acquires 51 pc stake in Brazilian seeds firm

VICTORIA, AUSTRALIA: Nufarm’s wholly owned Nuseed subsidiary, Nuseed do Brasil SA, has acquired 51 per cent of the equity in Atlantica Sementes Ltda, a Brazilian business specialising in sorghum and sunflower seeds. The acquisition provides an important base in the growing Brazilian market and is a further step in the expansion of Nuseed’s global platform.

The majority stake in Atlantica, to be purchased at a cost of R$25 million ($12.6 million) will allow Nuseed to supply a number of existing hybrids through the Atlantica distribution network and will leverage other development programme in Australia, Argentina and the US. Atlantica will have access to several new high value categories in the Nuseed pipeline including high sugar forage sorghum, which can be utilised by sugar cane ethanol plants seeking to improve year round feed-stock efficiency; and high oleic sunflowers, which produce a highly functional low saturated fat sought by food manufacturers and restaurant chains.

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