Northern Seed, which is backed by Lariat Partners, has acquired Triticale, a producer of crossbred grain produced from wheat and rye. The seller was Syngenta. No financial terms were disclosed.
DENVER–(BUSINESS WIRE)–Lariat Partners, a Denver-based private equity firm, has announced an add-on acquisition to its specialty agriculture business based in Montana. Northern Seed, LLC has acquired the market leading Triticale business from Syngenta, including its Vernon, Texas-based research center. Triticale, a crossbred grain produced from wheat and rye, plays a critical role in solving the need for forage, especially in areas with high cattle populations and limited water.
“Given Lariat’s emphasis on investing in specialty agriculture products and services that improve the efficiencies and yields of growers, this opportunity is an ideal fit for us”
Northern Seed is a distributor of certified wheat seed and other small grains, as well as a provider of seed conditioning and treatment services to growers. The acquisition of the Triticale business complements Northern Seed’s existing portfolio of wheat, barley, grasses, and peas/legumes.
This strategic transaction also complements other acquisitions made by Northern Seed that focus on seed distribution and animal nutrition. Through the acquisition, Northern Seed will expand upon Syngenta’s leading Triticale varietal research and development.
Dr. David Worrall will lead the strategic Triticale research program, complementing Northern Seed’s existing research program in Bozeman, Mont., that focuses on development of grains and forages.
“Given Lariat’s emphasis on investing in specialty agriculture products and services that improve the efficiencies and yields of growers, this opportunity is an ideal fit for us,” said Kevin Mitchell, Managing Partner for Lariat Partners. “We are excited about the new opportunities created by this add-on acquisition and we look forward to working closely with the customers and the key stakeholders within the Triticale markets.”
Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world-class science and innovative crop solutions, Syngenta works to transform how crops are grown and is committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities.
About Lariat Partners
Denver-based Lariat Partners is a private equity firm focused on redefining the private equity experience with entrepreneurs in the lower-middle market. With its People First, Strategy Second relationship philosophy and its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring REvenue businesses, Lariat offers a differentiated approach to partnering with entrepreneurs and growing their middle market businesses. The firm targets companies across a number of industries, including Specialty Agriculture, Energy & Environmental Services, Consumer Products and Maritime Services. For more information, visit www.lariatpartners.net.