F1SeedTech and NewBreedSeed (NBS) have entered into a definitive agreement, with F1SeedTech acquiring 100% of the shares of NBS.
The merger creates an industry leader in F1 hybrid varieties of cannabis, combining the day-neutral breeding activities of NBS and the short-day breeding activities of F1SeedTech in Israel and the Netherlands, respectively.
Key Transaction Highlights:
- F1SeedTech's first entry into the professional U.S. cannabis and hemp market via Oregon-based NBS.
- NBS breeding competency has resulted in attractive F1 Cannabis hybrids due to their distinct, unique and stable cannabis & hemp varieties, combined with low-cost crop management.
- F1SeedTech is answering the demand for day-neutral seeds by strategically expanding the range of F1 Hybrids with day-neutral varieties.
- The scale and combination of the individual breeding programs and related growing technologies will allow F1SeedTech to accelerate its growth in all segments of the cannabis business (recreational, medicinal and hemp/CBD).
- NBS will continue expanding its breeding program and sales activities under the F1SeedTech name