A PROMINENT name in the Australian seeds industry is set to expand following the purchase of a fellow seed distribution business.
AGF Seeds announced it had purchased Benalla, Victoria family-owned business, Smyth Seeds.
It marks the first time AGF Seeds has grown beyond its home base of Smeaton, near Ballarat.
AGF Seeds will maintain its main processing, packing, warehouse and administration facility at Smeaton, while the former Smyth Seeds premises in Benalla will remain open as a warehouse, blending, packing and distribution point.
AGF Seeds director David Toose said Smyth Seeds was a great fit for the company and brought together two 100-percent Australian family-owned businesses with decades of experience.
Mr Toose said Smyth Seeds had been a respected major player in the Australian seed industry for nearly 70 years.
"When Smyth Seeds announced their business was for sale AGF was immediately interested as the Smyth brand was well known for the quality of their products," Mr Toose said.
"We've been looking to expand and we saw this as a good fit," he said.
Mr Toose said AGF was especially excited about being able to expand into the rich pasture growing regions of north-eastern Victoria.
"Smyth Seeds has been a contributor to the seed industry for nearly 70 years and we look forward to continuing that tradition."
"The purchase will improve access to products for existing AGF Seeds clients while continuing to serve Smyth Seeds clients.
"We already have sales people in the area and this will give them a base and inventory."
He said it was a pleasure to be able to offer customers an Australian-owned option.
"The market is becoming dominated by international companies so we're excited by this new chapter in our history."
Smyth Seeds founder Mick Smyth was a founding member of the Seed Industry Association of Australia - now the Australian Seed Federation - and the now-defunct Seed Merchants Association of Victoria.
His son, Smyth Seeds director Mike Smyth, continued the business with his other brother John, who retired about six years ago as a life member of the Australian Seed Federation.
Mike Smyth said he was pleased that the company was going to a like-minded family business.
"We're particularly pleased with the people we've sold it to," he said. "We've known David for decades and we see AGF as a company of similar background."
Smyth Seed's last day is October 29. John and Mike will continue to run a cattle farm in the Benalla region.
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