AgriStar Inc. announced this week that it has executed a letterof intent to acquire certain assets of Arm-Roy Stewart Inc., acompany that produces orchids and related horticulturalproducts.
The purchase is anticipated to be for a combination of cash andAgristar securities (NASDAQ:AGRS, small cap) and is subject tosatisfactory due diligence by AgriStar of Conroe, Texas, and theexecution of definitive agreements.
Arm-Roy Stewart, which operates as Stewart Orchids, was thefirst company to use aseptic culture for the large-scalepropagation of orchids. AgriStar has developed a patentedsystem, StarPac, for plant tissue culture micropropagation(cloning) using autoclavable membrane systems that arepermeable to gas and light but impermeable to liquids andbacterial contaminants.
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