Georgia, United States: Atlas Turf International and Pure Seed have signed a letter of intent agreement (LOI) with Jacklin Seed to acquire Sea Spray Seeded Seashore Paspalum.
According to the terms of the LOI, Pure Seed, developer and producer of innovative proprietary turf and forage grasses, and Atlas Turf International, worldwide distributor of licensed and certified turfgrasses, will assume production and global marketing of Sea Spray. Jacklin Seed will continue to be a distributor of Sea Spray.
Sea Spray was developed in 2004 by Pure Seed Testing as the first seeded seashore paspalum.
In 2014, Pure Seed and Asian Golf Industry Federation Full Business Member Atlas Turf introduced a new seeded seashore paspalum to the international market and received immediate interest and demand.
The addition of Sea Spray to the team’s catalogue of products will make them the largest marketers of seeded paspalum in the world. Upon completion of the deal, all Sea Spray inventory, licenses, trademarks, intellectual property, and other non-seed assets will move to Pure Seed and Atlas Turf.
“We are pleased at the prospect of having Sea Spray in our portfolio of products,” said Pure Seed President and 2008 Plant Breeder of the Year Crystal Rose-Fricker. “Pure Seed has extensive knowledge of paspalum production. Adding Sea Spray to our paspalum program will allow us to continue to offer consistent supply and quality to our customers.”
Atlas Turf President John Holmes, a Board Member of the AGIF, said: “The move to acquire Sea Spray is part of our overall strategic plan to create a comprehensive marketing programme for paspalum products.
“We will now have the ability to expand deeper into markets beyond golf and sports turf while keeping our core customer base amply supplied with multiple options of the highest quality.”
Due diligence is expected to be complete by April 1, 2015.
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