Scotts Miracle-Gro Acquires Assets and Brands from Turf-Seed, Inc.
The Scotts Miracle-Gro Co., marketer of branded products for consumer lawn and garden care, has completed the acquisition of certain brands and assets from Turf-Seed, Inc., a producer of quality commercial turfgrasses for more than 35 years.
“The addition of Turf-Seed’s leading brands to the Scotts Miracle-Gro family brings together two market-leading organizations focused on growth and innovation,” said Jim Hagedorn, chairman and chief executive officer of Scotts Miracle-Gro. “Turf-Seed has extensive expertise in the professional seed business, a strong sales force, as well as a deep commitment to turfgrass research and development.”
The Hubbard, Ore.-based Turf-Seed, Inc. maintains a privately owned turfgrass breeding and development facility in the United States. This operation is known for the development of new turfgrass species, including disease-resistant and genetically modified varieties.
Mark Schwartz, senior vice president and general manager, grass seed, for Scotts Miracle-Gro, will lead the combined seed business. Bill Rose, Turf-Seed, Inc. founder, will serve as chairman of the Scotts Grass Seed Advisory Council. The Council will help guide the grass seed business and provide strategic direction in the area of new innovations and marketing initiatives.
“This is a very exciting union of two companies that maintain the same philosophies on the importance of turfgrass and its role in the health of the environment,” said Rose. “We look forward to joining the Scotts Miracle-Gro team and advancing the business.”
Under the agreements, Scotts acquires certain assets of Turf-Seed, including its brands, turfgrass varieties and intellectual property. Scotts also enters into a multi-year collaboration, including relationships with several entities controlled by Rose. These agreements include Pure Seed Testing, Inc., Roselawn Seed, Inc. and Rose Agri-Seed, Inc. The purchase price for Turf-Seed’s assets and payments, under the six-year term agreements, is expected to total approximately $30 to 35 million.
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