June 11, 2012, Greensboro, NC — Sun Gro has acquired Conrad Fafard Inc., Syngenta's growing media product business.
Fafard, has been producing and distributing growing media solutions to greenhouse growers, retailers and independent garden centres for more than 90 years.
"Syngenta remains deeply committed to delivering against our core flowers and plant protection business strategy, which includes the development and delivery of new products, cross-category innovation and integrated customer solutions to the greenhouse and nursery markets," said Tim Kroenke, head of Syngenta Lawn & Garden North America.
"However, to achieve our ambition of making plants easier and more rewarding for consumers, Syngenta is stepping up the focus on its core genetics and plant protection business, and divesting its interest in Fafard. By accelerating innovation further downstream in the value chain, Syngenta will be uniquely positioned to deliver breakthrough solutions that offer consumers a better plant experience.
Under terms of the agreement, Sun Gro will acquire all of the assets of Fafard (U.S. and Canada), including its employees and production facilities.
"This is a significant and exciting milestone for Sun Gro. The strong position Fafard has built with professional growers and retail customers alike over the past 90 years makes it an excellent fit with our long-term strategy, our customers, our business and our employees," said Sun Gro CEO John Hill.
"We look forward to having Fafard join our growing organization, and to continuing to deliver market-leading technologies to our customers throughout North America."
Financial terms of the deal were not disclosed.
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