Wanamingo, Minnesota, USA
September 23, 2015
Beginning in 1996, NorthStar Genetics has grown to a $50 million per year business, raising and marketing soybeans in a three-state area, and throughout most of Canada.
“We never thought it would grow at this rate and over such a large geography”, says Dan Hogstad, CEO of NorthStar. “Securing our Roundup Ready license in the US in 1996, and in Canada in 2004 has been the key to our success.”
“When this technology first arrived, growers were struggling with weed control. Roundup Ready allowed growers to plant and spray more acres very efficiently,” said Hogstad.
Originally NorthStar Genetics had 20 investors in Minnesota. “We realized quite soon that we needed more investors to cover more geography,” said Hogstad. “We secured the rights to sell shares in both North Dakota and South Dakota. This immediately enlarged our US market footprint into what it is today”.
Using the business model that worked successfully in the US, NorthStar secured a license from Monsanto to market RR soybeans throughout Canada. “We identified successful, privately-owned seed conditioning facilities and they joined as shareholders in our joint venture in Canada. The US owns 51% of this venture, and it couldn’t have been a better fit for our future.”
Sales of RR soybeans in Canada have exploded, due to early maturing soybeans, and the technology that benefits growers no matter where they are. “We currently are the marketshare leader in western Canada, and have a real active presence in Quebec as well,” said the long term CEO.
Initially, our investors were the district sales managers, product managers, and took on other roles that needed to get done. Over time, NorthStar has grown to over 24 employees, and is looking for more. “We are a marketing organization, and we need people to manage our dealer network, which is really growing. We are fortunate to attract a large number of younger growers as dealers, and that is very exciting going forward,” said Hogstad.
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