KEY POINTS:
PGG Wrightson Seeds has made a conditional offer to buy all the shares in South Australian seed group Keith Seeds.
The share offer had been accepted by Keith Seeds' board members holding 79 per cent of the shares, PGG Wrightson said yesterday.
If accepted by those holding the remaining 21 per cent of shares in the privately-held company, settlement would be likely to take place in May.
The deal would increase the turnover of PGG Wrightson Seeds Australian business by about 25 per cent.
In the past year, Keith Seeds with 17 full time staff, invested A$4 million ($4.6 million) in a new state-of-the-art facility to increase seed processing and exporting capacity.
PGG Wrightson Seeds general manager John McKenzie said the proposed purchase allowed his company to expand into new sales regions with a wider product range, and with intellectual property and grower networks in lucerne (alfalfa) and annual legumes.
- NZPA
