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US seed company makes Aussie acquisition

US seed company makes Aussie acquisition

sunflowers

Queensland-based SV Genetics sold its business assets to a US seed company, with advice from a Sydney-based firm.

Firms: Carter Newell (SV Genetics)

Deal: SV Genetics sold its business assets to S&W Seed.

Value: Undisclosed

Area: M&A

Key players: The Carter Newell team was led by corporate partner Matt Couper, who was assisted by solicitor William Keating.

Deal significance: Queensland-based SV Genetics Pty Ltd (SVG) sold its business assets to S&W Seed Company (S&W), a NASDAQ-listed US public company and S&W's Australian subsidiary, Seed Genetics International Pty Ltd.

Completion of the asset acquisition occurred on 27 May, with payment including a mix of cash and S&W common stock.

The acquisition expands S&W's product portfolio by adding two complementary crops that are expected to provide diversification into higher margin opportunities while leveraging their existing infrastructure.

Mark Grewal, president and chief executive officer of S&W, said the acquisition has given them an opportunity to leverage the worldwide research, production and distribution platforms which they have built in alfalfa with the addition of hybrid sorghum and sunflower.

"The acquisition of SV Genetics and its high-quality proprietary sorghum and sunflower seed varieties, customer base and research program, provides us with an entry into two new large addressable markets," Mr Grewal said.

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