Visbek, Germany / Madrid, Spain / Illinois, USA
May 6, 2026
Plant breeding company Planasa, part of the German family holding EW Group, has announced the acquisition of Illinois Foundation Seeds Inc. (IFSI), part of the US family office, Armory Capital. The US-based company is one of the leading providers in vegetable genetics and is particularly renowned for its expertise in sweet corn.
With this acquisition, EW Group underscores its long-term strategy of making targeted investments in research and development and expanding its portfolio in plant genetics. IFSI brings more than 88 years of experience and has sales in over 70 countries.
IFSI will continue to be led by its existing management team and will retain its operational independence, ensuring seamless continuity in its research activities as well as its relationships with customers and partners. At the same time, integration into Planasa will provide access to additional resources and a global network, further driving growth and innovation.
“IFSI’s expertise and market position in vegetable genetics perfectly complement our vision of becoming a global leader in plant genetics,” said Michael Brinkmann, CEO of Planasa. Clinton Naugle, CEO of IFSI, also welcomed the partnership: “With Planasa and EW Group, we gain a strong, long-term-oriented partner that values our company culture and our team.”
Financial details of the transaction have been agreed to remain confidential.
IFSI was advised by Jefferies (financial advisor/M&A) and UB Greensfelder (legal advisor).
About IFSI
Headquartered in Tolono, Illinois, IFSI is a leading independent provider of seed genetics. For more than 88 years, IFSI has been improving the performance of field crops and vegetable varieties. With a global presence and a strong commitment to innovation and quality, IFSI is dedicated to the continuous advancement of vegetable breeding.
About EW Group
EW GROUP is a globally active, family-owned group of companies with more than 300 subsidiaries operating in the life sciences sector. The group’s focus is on research- and innovation-driven activities in the areas of animal and plant genetics, nutrition, health, and diagnostics. The group operates in more than 50 countries and employs over 28,000 people.
About Armory Capital
Armory Capital is a family holding company with a legacy of more than 75 years of investing in private businesses. Unlike traditional private equity groups, Armory is funded with permanent capital. This unique funding structure means that the firm’s decisions are not driven by the limited life of a particular fund. Armory Capital holds investments based on the merits of the opportunity and the needs of its management partners.
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