Lantmännen acquires a majority stake in ThermoSeed Global
Lantmännen Sweden has acquired the majority of shares in ThermoSeed Global AB. This assures the possibility of continued investment in this environment friendly seed on the international market.
The Swedish company ThermoSeed Global AB is a spin-off from Incotec, a Dutch company that, in partnership with Lantmännen Bioagri, has developed and marketed ThermoSeed outside Scandinavia since 2010. ThermoSeed is an effective and environment friendly method of treating seed without additives. In January, Lantmännen acquired a 90.1 percent holding in ThermoSeed Global AB. The remaining shares are held by Kenneth Alness, CEO of ThermoSeed Global AB.
There has been tremendous interest in ThermoSeed and the business is in an expansive phase internationally. Lantmännen's know-how and broad contact network means ThermoSeed Global AB gains a stable principal shareholder and good platform for continued international expansion and development.
“We are pleased via this acquisition to be able to bring this ThermoSeed business under the Lantmännen umbrella and at the same time, take an active role in the growth of ThermoSeed. Together with our plant breeding business, which develop robust, high yielding varieties, ThermoSeed is a technology that is a good fit for Lantmännen investments in innovation and development,” says Peter Annas, Director of Seed and Commodities at Lantmännen Agriculture.
“We now have ThermoSeed operations on a commercial scale in Sweden, Norway and the USA, and interest is rising sharply. With Lantmännen as the new owner, we will be able to exploit our joint ThermoSeed expertise even more fully to the benefit of more customers,” Kenneth Alness, CEO of ThermoSeed Global AB, says.
For more information, please contact:
Peter Annas, Director of Commodities and Seed, Lantmännen Agriculture
Tel: +46 10 556 04 28
Email: peter.annas@lantmannen.com
Kenneth Alness, CEO ThermoSeed Global AB
Tel: +46 10 556 18 08
Email: kenneth.alness@lantmannen.com
Background
Kenneth Alness formed ThermoSeed Global AB in 2016, and in December 2016, ThermoSeed Global AB acquired all rights to ThermoSeed from Dutch company Incotec AB. In January 2018, Lantmännen acquired a 90.1 percent stake in ThermoSeed Global AB. Lantmännen and Lantmännen BioAgri develop and market ThermoSeed in Scandinavia and ThermoSeed Global develops and markets ThermoSeed outside Scandinavia.
About Lantmännen
Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 25,000 Swedish farmers, we have 10,000 employees, operations in over 20 countries and an annual turnover of SEK 40 billion. Our company is founded on the knowledge and values acquired through generations of farmers. With research, development and operations throughout the value chain, together we take responsibility from field to fork. www.lantmannen.com/en
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