Agreement between Pure Seed and Atlas Turf International (Feb 24)

February 24, 2015 – Pure Seed and Atlas Turf International have announced they have signed a letter of intent agreement (LOI) with Jacklin Seed to acquire Sea Spray Seeded Seashore Paspalum. According to the terms of the LOI, Pure Seed and Atlas Turf International will assume production and global marketing of Sea Spray. Jacklin Seed will continue to be a distributor of Sea Spray.

Sea Spray was developed in 2004 by Pure Seed Testing as the first seeded seashore paspalum. In 2014, Pure Seed and Atlas Turf introduced a new seeded seashore paspalum to the international market and received immediate interest and demand. The addition of Sea Spray to the team’s catalog of products will make them the largest marketers of seeded paspalum in the world. Upon completion of the deal, all Sea Spray inventory, licenses, trademarks, intellectual property, and other non-seed assets will move to Pure Seed and Atlas Turf.

“We are pleased at the prospect of having Sea Spray in our portfolio of products,” said Pure Seed president Crystal Rose-Fricker. “Pure Seed has extensive knowledge of paspalum production. Adding Sea Spray to our paspalum program will allow us to continue to offer consistent supply and quality to our customers.”

“The move to acquire Sea Spray is part of our overall strategic plan to create a comprehensive marketing program for paspalum products,” said Atlas Turf president John Holmes. “We will now have the ability to expand deeper into markets beyond golf and sports turf while keeping our core customer base amply supplied with multiple options of the highest quality.”

Diligence is expected to be complete by April 1, 2015. In the meantime, Sea Spray will be represented in the Jacklin Seed booth at the 2015 Golf Industry Show in San Antonio, Texas. For more information about Sea Spray visit Pure Seed at booth #15041 or Jacklin Seed at booth #11116.

Original:
http://www.statewideturfequipment.com/pure-seed-and-atlas-turf-international-enter-agreement/#sthash.FPdPirDw.dpuf