Yates Ltd announced on 14 March 2003 its proposed divestment of Yates Vegetable Seeds.
Yates Vegetable Seeds has had a sales turnover of $AUD19.6m in the financial year ending 30 June 2002 and $AUD10.1m in the six months ending 31 December 2002. The business operates primarily in Australia and New Zealand and distributes commercial vegetable seeds from its own breeding programs and as a wholesale distributor on behalf of other seed companies.
Yates Ltd is proceeding with this divestment to focus on the consumer lawn and garden business which it operates in Australia and New Zealand.
To assist with the sale process Yates Ltd have appointed AgriCapital Corporation, a New York based Investment Bank. All enquiries should be directed to R B Halaby, Chairman AgriCapital Corporation.
