Goldcrop has purchased Power Seeds and Hardware Ltd from Origin Enterprises plc, the operating company set up by IAWS last year to run its core agriculture and non-lifestyle foods businesses.

No sale price was disclosed for the deal, but Goldcrop said the enlarged group would have annual turnover of more than €45 million and employ about 90 people.

Goldcrop, which has production, distribution and warehouse facilities at Carrigtwohill, Co Cork and Dunleer, Co Louth, said the acquisition will give it access to a large number of new certified seed growers in the important grain growing areas of north Leinster and north Munster.

Power Seeds has a 150-year track record in the agricultural market and Goldcrop said the acquisition will increase its range and quality of its seeds portfolio as well as giving it a strategic foot-hold in the agri hardware and forage packaging markets.

"As an industry we need to ensure that our customers have access to the most innovative and competitively priced products," said Goldcrop managing director John Murphy.

In addition to seeds for cereals, grassland, brassicas, root crops and commercial horticulture, Goldcrop supplies high-end amenity grass seeds for golf courses, sports fields and imports young plants for floriculture.

A subsidiary company Wicklow Garden Products manufactures and distributes decorative timber products to the garden, landscaping and fencing markets throughout Ireland.

Goldcrop is also a 50 per cent shareholder in Groundforce Ltd, an importer and distributor of branded garden products and accessories. It was formed when chairman Michael Murphy led a management-buy out of the business from Suttons in 1985.

Mr Murphy has spent his entire career in the seed business and has held many senior industry positions including chairman of An Bord Glas and president of the Irish Seed Trade.