Fielder's Choice Sold
Jan 1, 2007 12:00 PM
Monsanto Company's subsidiary American Seed Inc. (ASI) recently announced plans to purchase the direct sales seed company Fielder's Choice Direct from Landec Corporation. In addition, Monsanto is entering a five-year licensing agreement with Landec for the company's Intellicoat polymer seed coating. At the end of the licensing agreement, Monsanto has a buyout option for the Intellicoat technology. The value of the two agreements is $70 million, according to Monsanto.
Fielder's Choice Direct, based in Monticello, IN, includes the Fielder's Choice and Heartland Hybrids seed brands. Combined, the two brands account for about 1% of the U.S. corn seed sales. The Landec Intellicoat seed coating helps growers extend planting schedules by delaying germination until the soil reaches a certain temperature.
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