| For immediate release:
Longmont, CO - The French seed company, Florimond Desprez, Inc., has
acquired Longmont, CO based Seedex, Inc. in a cash for stock deal. Terms
of the deal are not available.
Seedex was established in 1987 as a subsidiary of Mitsui & Co.
(U.S.A.). Seedex develops varieties of sugar beet, edamame beans, and
corn, and markets its seeds in eleven different states
Florimond Desprez said the acquisition will create a solid foundation
on which to build its North American business. Florimond Desprez, a 100%
management owned business, is a leading breeder of small grain cereals,
protein peas, alfalfa, sugar beet and fodder beet in Europe. Its varieties
are marketed in 35 different countries. Headquartered in
Cappelle-en-Pevele, north of Paris, Florimond Desprez conducts research on
the improvement and creation of new varieties through traditional and
biotechnology methods. Florimond Desprez operates subsidiaries in Spain,
Italy, Czech Republic and Morocco.
The company will continue to be headquartered in Colorado. The current
management team will be kept in place and no major changes in operations
are expected. |