Biotech firm ArborGen purchases Edendale Nursery in New Zealand

By VCPOST Staff Reporter

Apr 07, 2014 07:54 AM EDT

Biotech forestry firm ArborGen has acquired The Edendale Nursery in Southland, according to The financial terms of the transaction were not disclosed in the said report.

Greg Mann, the general manager of ArborGen Australasian operations, said of the deal: "This acquisition now enables ArborGen to supply customers throughout the North and South Islands of New Zealand. We look forward to working with forest owners in Southland and Otago, assisting them to add additional value to their estates, and continuing Edendale's proud tradition in the region.''

Under the terms of the acquisition deal, ArborGen will take charge of the nursery's sales beginning the 2014 season. In addition, the Southland property will be leased from the present owners. ArborGen will also have an option to purchase the land as well. The company was chosen by Edendale's former owners as the buyer to make sure that the business will be in good hands, the report detailed. 

Founded in 1987, the Edendale Nursery produces tree seedlings for forest managers, large corporate forest owners, and other farm foresters in the Otago and Southland region. ArborGen, on the other hand, is the biggest company that supplies seedlings in New Zealand, reported.

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