Nufarm’s Nuseed subsidiary, Nuseed do Brasil S.A., has acquired a 51% stake in Atlantica Sementes Ltda., a Brazilian company, for $12.6 million.
The acquisition provides a base in the growing Brazilian market and is a step towards the expansion of Nuseed’s global platform.
Atlantica has administration, sales, marketing, production and testing capabilities in Brazil as well as a strong market presence. Atlantica employs 45 people with offices in Curitiba and Rio Verde. Current annual sales are approximately $12.6 million.
The majority stake in Atlantica will allow Nuseed to supply a number of existing hybrids through the Atlantica distribution network and will leverage other development programs in Australia, Argentina and the U.S, Nufarm said.
Atlantica will have access to several new high value categories in the Nuseed pipeline including high sugar forage sorghum, which can be utilized 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.