Planasa, the plant genetics and breeding company that is part of the German family-owned holding EW Group, has announced the acquisition of Illinois Foundation Seeds Inc. (IFSI), owned by the US family office Armory Capital. The company, based in the United States, is one of the leading providers of vegetable genetics and is particularly recognised for its expertise in sweet corn.
IFSI will continue to be led by its current management team and will maintain its operational independence, ensuring a smooth continuation of both its research activities and its relationships with customers and partners. At the same time, its integration into Planasa will provide access to additional resources and a global network, further driving growth and innovation.
“IFSI’s expertise and market position in vegetable genetics perfectly complement our vision of becoming a global leader in plant genetics,” said Michael Brinkmann, CEO of Planasa.
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Clinton Naugle, CEO of IFSI, also welcomed the partnership: “With Planasa and EW Group, we gain a strong, long-term partner that values our company culture and our team.”
The parties have agreed to keep the financial details of the transaction confidential. IFSI was advised by Jefferies as financial/M&A advisor and UB Greensfelder as legal advisor.
