Galesburg, Illinois, USA
September 10, 2018
John and Holly Hennenfent, owners of Munson Hybrids, announced this morning the acquisition of Munson Hybrids Sales Division by Cornelius Seed and Legend Seeds. Financial arrangements were not disclosed.
Munson Hybrids was started by Carl Munson in 1934. The company was purchased in 1999 by the Hennenfents who built a successful, independent and local focused business in Illinois and Wisconsin.
“Both Cornelius Seed and Legend Seeds share our values”, according to John Hennenfent, President of Munson Hybrids. “They are more focused in knowing a farmer’s fields than knowing the corporate boardroom”.
Under terms of the agreement, Cornelius Seed will acquire retail sales rights of Munson Hybrids in Illinois and Southern Wisconsin, while Legend will acquire retail sales rights in Central Wisconsin. The Hennenfents will continue to operate production facilities at the Galesburg facility independently.
Cornelius Seed of Bellevue, IA, is an American family-owned seed company that was started in 1935. Over eight decades, five generations have provided performance excellence and agronomic know-how to their customers. Cornelius markets corn, soybeans, alfalfa and grass seed primarily in Iowa, Wisconsin and Illinois.
Legend Seeds of De Smet, SD is an independent seed company started in 1990. Legend focuses in 7 states throughout the upper Midwest with a vision to provide local farmers with proven products, complete customer service and ultimately more profit per acre.
Verdant Partners initiated these transactions and advised Munson Hybrids, Inc.
Verdant Partners LLC is recognized as the leading transaction advisory and consulting group for agribusiness. Founded in 1998, Verdant’s focus covers the span of crop production agriculture, with transaction experience extending beyond seeds and traits to all facets of crop-based agribusiness. The Verdant team is comprised of professionals located in offices across North America, South America, Europe, and Australia. Verdant advises privately held businesses, public corporations, multinationals, venture and buyout funds, and technology companies throughout the world. Since 1998, Verdant has initiated and managed successful transactions and alliances valued at more than U.S. $2.4 billion. For further information, please visit: www.verdantpartners.com
Topics
Species
