Goldcrop in buyout of Power Seeds and Hardware

GOLDCROP announced yesterday that it has purchased Power Seeds and Hardware from Origin Enterprises in a move that will boost the company’s annual sales to €45 million.

The acquisition will give the company access to a large number of new certified seed growers in the important grain-growing areas of north Leinster and north Munster. Goldcrop has production, distribution and warehouse facilities at Carrigtwohill, Co Cork, and Dunleer, Co Louth, while Power Seeds, which has locations in Kilcock, Co Kildare, and Killavullen, Co Cork, has a 150-year track record in the agricultural market.

The chairman of Goldcrop, which will have an annual turnover of more than €45m and employs around 90 people, is Michael Murphy — a native of Ballydesmond, Co Cork, who led a management buyout of the business from Suttons in 1985.