Dow AgroSciences LLC announced today it is acquiring the majority of assets of Illinois based corn company Pfister Hybrids. The addition of Pfister Hybrids will further expand Dow AgroSciences’ current U.S. seeds business as 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.
“Pfister was one of the founding seed corn companies in the Midwest, and we are proud to continue the legacy started more than seven decades ago by one of the nation’s original seedsmen Lester Pfister,” said Stan Howell, vice president, North America Regional Commercial Unit for Dow AgroSciences. “Pfister Seeds is a welcomed addition to our U.S. seed business. At Dow AgroSciences investing in innovation is the key to our future, and we look forward to building upon the Pfister tradition.”
Under the terms of the agreement, Dow AgroSciences will acquire the Pfister brand and the sales and marketing areas, as well as the warehousing and administrative services of the business. Dow AgroSciences will continue to independently market seeds under the Pfister Seeds brand, and Pfister Seeds will continue to be headquartered at its existing location in El Paso.
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