Verdesian Life Sciences on Tuesday announced that it has acquired Specialty Fertilizer Products, a Leawood, Kan., company focused on fertilizer efficiency products.
By joining forces with SFP, Verdesian will gain more than 270 patent properties and be able to offer a broader portfolio for customers, more solutions to meet growers' needs, a greater focus on key customers with the largest plant nutritional sales force in the United States and a robust pipeline in plant nutrition, the company said.
"SFP's innovative fertilizer solutions are a natural fit with Verdesian's expansive product offerings that increase grower yields and return on investment," said J.J. Grow, chief executive officer for Verdesian Life Sciences. "Bringing SFP into the Verdesian family represents another step in our long-term strategy to build a leading portfolio of plant health and nutrition products."
Verdesian will further enhance its position in the crop markets with the addition of AVAIL Phosphorus Fertilizer Enhancer, NutriSphere-N Nitrogen Fertilizer Manager and More Than Manure Nutrient Manager.
These products complement the current portfolio that includes Nutri-Phite and Nutri-Phite Plus, Sterics, Take Off, PolyAmines, and the INTX line of inoculants and seed treatments.
"We are confident that the addition of SFP's outstanding team, impressive product lineup and excellent reputation for service will be a great combination with Verdesian Life Sciences," Grow added. "This move strengthens our ability to bring a new level of plant health technology to customers as the demand and expectations for these valuable products continue to grow. We also remain committed to the research and development of products that are environmentally sustainable."
"We are excited to join Verdesian, which will enable us to take our business to the next level," said SFP founder J. Larry Sanders, who has served as president and chief executive officer. "As part of Verdesian, we will be able to offer our revolutionary and environmentally beneficial fertilizer efficiency technology to more growers in more markets, and to bring the exciting products we have in our pipeline to market."
According to Grow, there will be no immediate staffing changes except in the reporting structure at the senior management level.
For example, Sanders has been named executive vice president of Polymer Technology and will report to Verdesian's J.J. Grow. The sales forces of both organizations will continue to service their clients through 2014. In early 2015, SFP will become Verdesian and a combined sales force will be formed.
Financial terms of the deal will not be disclosed. The current U.S. and international pricing, product distribution, programs and policies for all products offered by Verdesian Life Sciences, including the acquired SFP products, will remain in place through 2014.