According to Verdesian CEO J.J. Grow, joining forces with SFP will add more than 270 patent properties to the company’s portfolio. “SFP’s innovative fertilizer solutions are a natural fit with Verdesian’s expansive product offerings that increase grower yields and return on investment,” said Grow. “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.”
“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.”
Sanders has been named executive vice president of Polymer Technology and will report to Verdesian’s J.J. Grow who says there will be no immediate staffing changes except in the reporting structure at the senior management level.
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.
Verdesian Life Sciences is a plant health and nutrition company with patented biological, nutritional, seed treatment and inoculant technologies that help specialty and row crop growers and turf management professionals maximize their nitrogen and phosphorus investments. Founded in 2012 to acquire and grow plant health product companies, Verdesian is based in Cary, N.C., with production and manufacturing facilities in Visalia, Calif., Pasco, Wash., and Kentland, Ind.