Australian Grain Technologies (AGT) and InterGrain have begun formal negotiations on a deal to strengthen Australian-focused cereal breeding.
Updated 31 March 2017
On 31 March 2017 the Australian Competition and Consumer Commission (ACCC) issued a Statement of Issues relating to the proposed acquisition of InterGrain Pty Ltd by Australian Grain Technologies (AGT).
Full details of the Statement of Issues can be found on the ACCC website: https://www.accc.gov.au/media-release/accc-releases-statement-of-issues-on-proposed-acquisition-of-intergrain-by-agt
Whilst the ACCC’s preliminary view was that the acquisition had the potential to lessen competition in relation to the breeding, development and supply of barley seed varieties for the Australian market, AGT remain confident that we hold the best interest of the grower at the forefront of all business operations and believe we stand to deliver excellent results for barley growers into the future. No concern was raised in relation to wheat breeding by the ACCC.
With a history of delivering continual improvement in wheat genetics, AGT look forward to creating similar value for farmers with our barley breeding endeavors. We believe that the AGT business mission to improve the lives of Australian rural families through the development and adoption of improved field varieties, is the best possible outcome for the use of InterGrain germplasm into the future.
AGT continue to work with the ACCC to progress their investigations and ensure that barley breeding continues strongly during this period of change for the industry. Further information will be provided to growers, industry and the media as it becomes publicly available.
Further enquiries can be directed to the AGT Communications Officer, Rebecca Freeman, on 0414 844 425 or at email@example.com.
AGT started out its life in 2002, focused on breeding wheat for South Australia. We have been growing ever since, and over time our goals have expanded to include multiple crops nation wide.
At AGT, we consider ourselves privileged to be able to serve Australian farmers and the world’s population by developing new field crop varieties that are more productive, better quality and/or cost less to grow. This is what drives our people. We want to see Australian farmers more prosperous, and the global population to be well nourished.
AGT currently have a strong presence in WA, with breeders and technical officers from the Northam breeding centre managing field trials, collecting data and attending industry days and field days during the year.
We have good relationships with WA grower groups and in recent years released high performing varieties suited to WA, including Mace, Corack, Scepter and Cutlass.
AGT is proud to have developed a network of highly motivated and competent Affiliates in WA and encouraged adoption of the AGT Seed Sharing initiative by growers.
With 33% of the national wheat and barley tonnage and 69% of the national lupin tonnage production annually, AGT understands the importance of WA grain growers to our national economy and is excited about the opportunity to improve plant genetics in Australia into the future.
The proposal under discussion would see AGT acquire InterGrain, bringing together two strong, vibrant, local plant breeding companies focused on the development and adoption of improved varieties to meet the unique needs of Australian grain growers.
To learn more about the negotiations, read the joint media release from AGT and InterGrain here.