According to the July 14 announcement, the transactional close is expected in the near future.
Under the terms of the agreement, Dow AgroSciences will acquire the Pfister brand and the sales and marketing areas, as well as the warehousing and administrative services of the business.
Dow AgroSciences will continue to independently market seeds under the Pfister Seeds brand, and Pfister Seeds will continue to be headquartered at its existing location in El Paso.
Linda Brown, president for Pfister, will remain with Pfister Seeds LLC as general manager. Dale Brown will continue as the business and brand development lead, and Bill Salmi will remain as the company controller.
Lester Pfister founded Pfister Hybrid Corn Company more than 70 years ago and was one of the first seedsmen in the United States. He was recognized as “Outstanding Corn Breeder of the World” by the Museum of Science and Industry, and by 1940, 44 states and 30 countries were planting Pfister corn.
His early innovations in corn breeding and production aided in the development of today’s hybrid seed corn industry.
The addition of Pfister Hybrids expand Dow AgroSciences’ current U.S. seeds business as the company anticipates the introduction of SmartStax in 2010 and Dow AgroSciences Herbicide Tolerance technology in corn in 2012.