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Santa Fe Farms of New Mexico has bought a Colorado hemp-genetics firm to establish a line of propietary genetics.
High Grade Hemp Seed of Longmont, Colorado, will retain its name and location but will become a subsidiary of Santa Fe Farms, which grows hemp on about 200 acres but does not have its own line of genetics.
The companies said in a statement that they’ll prioritize developing hemp varieties “that will adapt to climate change,” in addition to looking for market opportunities.
Both firms are privately held, and terms of the acquisition were not announced.