RAGT Semences’ Acquisition of Seed Force

On 25 June 2021, RAGT Semences completed its acquisition of Australian and New Zealand seed wholesaler Seed Force, through its subsidiary company Joordens’ Zaadhandel B.V., to expand its presence in the southern hemisphere. The sale price was undisclosed, however, the purchase was funded through loans and purchase consideration to buy out third-party shareholders in a linked series of transactions.

Through Seed Force, RAGT Semences will leverage opportunities in pasture, forage, broadacre and soil health markets, while growing its full-range breeding portfolio (over 30 species). 

This complex transaction saw RAGT Semences move from a minority shareholder in Seed Force Limited (NZ) and from indirect minority shareholding in Seed Force Pty Ltd (Australia) to full ownership of both entities. In achieving this, RAGT Semences subsidiary Joordens’ Zaadhandel B.V. wholly purchased the New Zealand target, with the newly acquired target wholly purchasing the Australian target in a linked series of transactions, which were simultaneously completed. Adding to the complexity of the deal, the vendors for each entity were different, with warranty comfort in respect of the Australian target having to be provided by the vendors of the New Zealand target, with back-to-back indemnities between the vendor groups. 

The Lander & Rogers team consisted of partner Deanna Constable (Picture), and lawyers Jennifer Goh and James Kelly, who specialise in legal due diligence, foreign investment advice and documentation on domestic and international mergers and acquisitions.

 

Involved fees earner: Deanna Constable – Lander & Rogers; Jennifer Goh – Lander & Rogers; James Kelly – Lander & Rogers;

Law Firms: Lander & Rogers;

Clients: RAGT Semences;

Author: Sonia Carcano