Sacramento, CA (November 1, 2018) - S&W Seed Company announced that it has acquired certain assets and assigned contracts of Chromatin, a U.S.-based sorghum operator which entered into receivership earlier this year. The purchase price was $26.5 million.
“We are excited about this announcement and the opportunity it provides S&W to significantly expand our presence in the sorghum industry and evolve into an elite middle market agricultural company,” says Mark Wong, CEO of S&W Seed Company. “Chromatin originated as an agricultural biotech company that had transitioned to an integrated global sorghum seed company. We believe the sorghum hybrids that have been developed to date are some of the best in the industry, with a development pipeline of products that include key traits that are anticipated to be first to market. In addition to a strong product portfolio, they have established a distribution network of sales representatives, 500+ farmer-dealers, and channel partners that we believe will allow for significant cross selling synergies with our existing alfalfa sales organization. This is precisely the type of opportunity the management team and board has been seeking to accelerate our go forward strategic plan.”
Anticipated Key Attributes of the Chromatin Assets Include:
Wong concludes, “S&W has a defined plan in place to recognize significant sales and cost synergies that we believewill position the acquired operations to be a significant contributor of profits in fiscal 2020 and beyond.”
Founded in 1980, S&W Seed Company is a global agricultural company headquartered in Sacramento, California. S&W’s vision is to be the world’s preferred proprietary seed Company which supplies a range of forage and specialty crop products that supports the growing global demand for animal proteins and healthier consumer diets. S&W is a global leader in alfalfa seed and sorghum hybrid, with significant research and development, production and distribution capabilities. S&W also provides hybrid sunflower and is utilizing its research and breeding expertise to develop and produce stevia, the all-natural, zero calorie sweetener for the food and beverage industry. For more information, please visit www.swseedco.com.