Hicks, Muse, Tate & Furst Inc. ("Hicks Muse") of Dallas, Texas, a leading U.S.-based private equity firm, and Emergent Genetics Inc. ("Emergent Genetics"), a management affiliate focused on the seed industry, today announced a definitive agreement to acquire L. Daehnfeldt A/S ("Daehnfeldt") of Odense, Denmark, a leading Northern European seed company, from Booker plc. The parties expect to complete the transaction by early November.

Booker plc is selling Daehnfeldt as part of a previously announced strategy to focus on its core "cash and carry" and food services businesses.

Daehnfeldt, which currently operates as a stand-alone, independently managed subsidiary of Booker plc, is a horticultural seed company with a strong germplasm base and a high level of knowledge and experience in flower and vegetable breeding, seed production and marketing. It is a market leader in both the flower and vegetable seed sectors. The company sells both internally-bred varieties and exclusively licensed products to professional growers.

In the packet seed sector, Daehnfeldt has established a dominant position in the domestic market and has rapidly achieved a leading position in the Norwegian market. The company's best known brand names include "Daehnfeldt", "Ohlens Enke" and "Hurst".

Mark W. Wong, Managing Director of Emergent Genetics, said: "Daehnfeldt represents a significant step in the creation of an affiliation of global seed companies committed to enhancing the value of seeds in the agricultural process through the application of biotechnology. We look forward to working with the employees of Daehnfeldt to realize a growing and profitable future for the company."

Charles W. Tate, President of Hicks Muse, said: "We are pleased to add Daehnfeldt to our growing investment portfolio of high-quality companies. With its excellent market positions, distribution network and breeding programs, along with the financial backing of Hicks Muse and strategic guidance of Emergent Genetics, Daehnfeldt has a bright future as a platform for significant growth."

Emergent Genetics is a new venture combining the strong seed industry and biotech experience of its management with the financial strength and development capabilities of Hicks, Muse, Tate & Furst. Emergent Genetics' exclusive focus is toward direct equity investment in established seed companies, enabling them to develop capital. Emergent Genetics brings access to biotechnology as well as the integration and operation expertise necessary for expansion and growth.

For further information, please contact:
Vonnie Estes
Vice-President
Emergent Genetics, Inc.
Tel: +1 (303) 303-449-9060
E-mail: vestes@emergentgenetics.com

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