Cary agribusiness company continues buying spree

07/03/2014 10:40 AM

07/03/2014 10:41 AM

Agribusiness company Verdesian Life Sciences has acquired Kansas-based Specialty Fertilizer Products, the latest in a string of acquisitions by the Cary company.

Financial details of the acquisition, which was announced this week, weren’t disclosed.

Verdesian officials couldn’t be reached for comment Thursday. But the company reported in its announcement that the deal will give it access to more than 270 patents and enhance its product portfolio, among other benefits.

Specialty Fertilizer has more than 60 employees, up from six when it was launched in 1998, according to the Kansas City Business Journal.

“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 CEO J.J. Grow said in a prepared statement.

Verdesian was created in 2012 by Paine & Partners, a private equity firm with a $1.2 billion investment fund and offices in New York, Chicago and San Mateo, Calif.

Verdesian has production and manufacturing facilities in Visalia, Calif., Pasco, Wash., and Kentland, Ind. The Specialty Fertilizer deal is the company’s fifth acquisition since its inception, according to its website.

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