American specialty crop developer Technology Crops International (TCI) has acquired UK's Premium Crops Ltd, according to The Business Journals. The financial terms of the deal were not disclosed in the said report.

TCI Chief Executive Officer (CEO) Andrew Hebard said of the transaction: "We believe this merger adds value to growers, customers, and end users alike. We are thrilled to partner with a dynamic team that has such a great depth of expertise in specialty crops. Both sides benefit from deeper specialty crop knowledge and expertise, plus great synergies. It really is a perfect partnership."

Under the terms of the acquisition deal, Premium will continue to operate using its current name. Its employees will also be retained. TCI said the merger will enhance its efforts to develop more plant-based products, according to Winston-Salem Journal.

Premium's products are concentrated on spring and winter flax, canary seed, millet, naked oats, and red wheat. TCI, on the other hand, specializes in premium-priced crops such as meadowfoam and high oleic sunflower, the report detailed.