Agricultural Investments

June 17, 15:35 Source: APK-Inform Views: 87

Syngenta to acquire Lantmannen's winter wheat and winter oilseed rape businesses

Syngenta recently announced an agreement to acquire the German and Polish winter wheat and winter oilseed rape (WOSR) breeding and business operations of Lantmannen, the Swedish food, energy and agriculture group. 

Syngenta will gain access to high-quality germplasm, a seeds pipeline and commercial varieties which complement the company's portfolio in two of Europe's most important crops. Lantmannen employees in Germany and Poland will also join Syngenta.

The deal will support the continued development of hybrid cereals to growers worldwide. In WOSR, Syngenta will strengthen its breeding program, enabling the development of highly competitive hybrids with yield stability and winter hardiness as well as broader disease resistance. 
As part of the transaction, Syngenta and Lantmannen will also enter into an R&D collaboration in wheat, and Lantmannen will distribute Syngenta cereals and WOSR seeds in Sweden. 

Syngenta Chief Operating Officer, John Atkin, said: "This acquisition reinforces our position in the important cereals and WOSR markets of Germany and Poland, and immediately enables us to market Lantmannen seed for these crops in both countries. We will also incorporate their high-quality genetics into our international breeding programs to develop seeds that offer significant productivity benefits to growers." 

Lantmannen Head of the Agriculture Sector, Johan Andersson, said: "Through this deal Lantmannen will get the opportunity to commercialize Syngenta cereals and oilseed rape seeds in our home market. We will continue the breeding activities in Sweden and Holland in winter and spring wheat, spring barley, oats, triticale, spring oilseed rape, forage crops, willow and potatoes. Lantmannen will also continue to market seeds of these crops in Sweden as well as the international markets."

Financial details were not disclosed. The transaction is subject to approval by the German competition authority and is expected to close in July 2014.

 

Source: news.agropages.com

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