Pure Seed and Atlas Turf International have signed a letter of intent agreement (LOI) with Jacklin Seed to acquire Sea Spray Seeded Seashore Paspalum.
According to the terms of the LOI, Pure Seed, developer and producer of innovative proprietary turf and forage grasses, and Atlas Turf International, worldwide distributor of licensed and certified turfgrasses, will assume production and global marketing of Sea Spray. Jacklin Seed will continue to be a distributor of Sea Spray.
Sea Spray was developed in 2004 by Pure Seed Testing as the first seeded seashore paspalum. In 2014, Pure Seed and Atlas Turf introduced a new seeded seashore paspalum to the international market and received immediate interest and demand. The addition of Sea Spray to the team’s catalog of products will make them the largest marketers of seeded paspalum in the world. Upon completion of the deal, all Sea Spray inventory, licenses, trademarks, intellectual property and other non-seed assets will move to Pure Seed and Atlas Turf.
Diligence is expected to be complete by April 1, 2015.