Markets :: Fine Chemicals/Biotech :: Seeds and traits
Monsanto Boosts Brazilian Corn Seed Share with Acquisition
9:40 AM MDT | September 21, 2007 | Michelle Bryner
Monsanto says it has acquired Agroeste Sementes (Xanxerê, Santa Catarina), a leading Brazilian hybrid corn seed producer, for about $100 million in cash. The deal boosts Monsanto’s share of the local corn seed market by 10%, bringing the company’s total share to 40% and bumping it ahead of DuPont as the largest player in Brazil. Monsanto says the acquisition will enhance its existing corn germplasm portfolio, allowing it to develop new higher-yielding corn seeds. The addition of Agroeste germplasm product line is also “expected to...
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