NEW ALBANY, Ind. (Inside INdiana Business) — California-based Tide Rock Holdings has acquired two seed coating companies, including one in Indiana. Financial terms of the deal for New Albany-based Midwest Seed Coating, as well as Summit Seed Coatings in Idaho, were not disclosed.
Tide Rock says both businesses, which are owned by Bill Talley, will continue to operate as a single entity under the Summit Seed Coatings LLC name. Talley will continue to lead the combined company.
“Adding Summit and Midwest to our portfolio demonstrates our guiding mission for long-term growth,” said Ryan Peddycord, chief executive officer of Tide Rock Holdings. “They are well-established, well-run businesses in an industry with growing demand and limited supply. They are ripe for significant growth, and we plan to provide the investment necessary to expand their capacity to support their customers’ needs.”
The combined Summit Seed Coatings company is the sixth business to be added to Tide Rock’s portfolio. Tide Rock did not specify whether any jobs would be affected by the acquisition.