Bayer CropScience will acquire FN Semillas, an Argentine seed company

Bayer CropScience recently announced that it has reached an agreement to purchase FN Semillas, a fledgling company based in Buenos Aires (Argentina). FN Semillas is specialized in the selection, production and marketing of improved soybean seeds in Argentina. This acquisition reaffirms Bayer CropScience's commitment with this country and marks the company's entry in the Argentine soybean seed market. No information on the financial details of the agreement has been provided.

FN Semillas solidly established its presence in the Argentine market since 2010, when it was founded. "Soybean is a crop of great strategic importance for the region and for Bayer CropScience. This acquisition grants us access to quality germplasm for the future development of varieties and traits," said Marc Reichardt, Bayer CropScience's spokesman for the Latin American region. "Currently, with our current product portfolio and FN Semillas' added-value seed varieties, we are in a position to provide the Argentine soybean growers a full range of solutions, including seeds, plant protection products and services."

This acquisition is another step by Bayer CropScience to build a global soybean platform. It also emphasizes the importance of Latin America in this context. Over the past three years, the company has announced several acquisitions in Brazil, including the Agrapastoril Melhoramento genebank, soy companies SoyTech and Wehrtec, as well as CVR's plant breeding technology. "Our acquisitions allow us to provide Latin American farmers the latest developments in our portfolio of soybean traits of local highly competitive varieties," said Reichardt. "Building upon an expanded soybean varieties portfolio and upon our global research of soybean traits will be able to provide farmers a wide range of mature products, tailor made to withstand the various conditions prevailing in the region."

Source: Interempresas.net

Publication date: Wed 11 Dec 2013

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Bayer CropScience will acquire FN Semillas, an Argentine seed company