Dow AgroSciences Announces Agreement to Acquire Renze Hybrids Acquisition to Expand Dow’s Business in Western Cornbelt

Dow AgroSciences LLC announced today it is acquiring the majority of Renze Hybrids Inc. assets. The addition of the newly formed Renze Seeds LLC will build upon Dow AgroSciences’ current seeds business and will expand its broad range of product offerings. The transactional close is expected in the near future.

“Renze has an established brand and product portfolio that strengthens our corn, and soybean business in the Western Cornbelt,” said Stan Howell, vice president, North America, Dow AgroSciences. “Furthermore, Renze’s combination of outstanding customer service and commitment to quality complements our strategy to build a world class seeds business.”

Under the terms of the agreement, Dow AgroSciences will acquire all sales, marketing and agronomy assets related to the Renze brand as well as all soybean production assets. Dow AgroSciences will continue to independently market seeds under the Renze brand and product offerings in 2009 will not be affected. Renze will continue to be headquartered at its existing location near Carroll, Iowa.

Craig Williams, currently operations manager for Renze, will remain with the business to lead Renze Seeds as Dow AgroSciences’ general manager. Tim Renze and Jeff Renze will serve as consultants to Renze Seeds. In addition, they, together with their father, Cyril, have formed RenPro Inc., a new seed corn production company to provide hybrid corn for Renze Seeds.

The Renze business experienced great success under the leadership of Cyril Renze, 82, with continued growth through sons, Tim and Jeff. Cyril entered the field of seed production in 1939 and is one of the industry’s original seedsman. Through his leadership in industry organizations, such as the American Seed Trade Association (ASTA) and several state seed organizations in Iowa, Cyril has helped to build a growing seed business that improved Midwest farmers’ production and yields.

“We believe the best time to make a move like this is when you are not forced to do it, and that time is now. I consider this the opportunity of a lifetime as possibilities of new product development are almost unlimited,” said Cyril Renze, president of Renze Hybrids. “Part of our legacy is that we, as a company, always have been on the forefront of adopting new technology. We wanted to ensure our customers’ success by continuing to offer the newest technology and best products in the future. And, our agreement with Dow AgroSciences ensures access to future technology and germplasm.”

Renze is the sixth acquisition, including Agromen, MTI, Duo Maize, Triumph Seed and Dairyland Seed Co., in the last 12 months as Dow AgroSciences builds a global seeds platform. This combination of companies will provide a strong regional presence for Dow AgroSciences to commercialize its HERCULEX® Insect Protection traits, SmartStax™, and Dow Herbicide Tolerance (DHT) technologies for the benefit of corn and soybean growers.

About Renze Hybrids

The Renze mission is to grow our business based on ethical business practices and our reputation for providing midwestern corn, soybean and alfalfa growers with the best genetics, traits and quality possible, thereby improving their profit per acre. For nearly 70 years, Renze Hybrids has been a preferred supplier of superior genetics, uncompromising quality and outstanding service to our customers, the American farmers of the Midwest.

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