December 6, 2013
Bayer CropScience to buy FN Semillas S.A
Bayer CropScience entered into an agreement to purchase the start-up company FN Semillas S.A. based in Buenos Aires, Argentina, which specialises in the breeding, production and marketing of improved soy seeds in Argentina.
This acquisition ratifies the commitment of Bayer CropScience in Argentina and marks the company's entrance into the national soy seed market in this country. Financial details were not disclosed.
Since its establishment in 2010, FN Semillas S.A. has built up a solid presence in the Argentine market. "Soy is a strategic crop for the region and for Bayer CropScience, and this acquisition gives us access to quality germplasm for future variety and trait development," said Marc Reichardt, Head of the Region Latin America for Bayer CropScience. "With our existing product portfolio and FN Semillas S.A. value-added varieties, we are now in the position to provide Argentinian soy farmers a comprehensive range of solutions including seeds, crop protection products and services."
For Bayer CropScience, this acquisition is another step in building an outstanding global soy seed platform, and further underlines the importance of the Latin American region in this context. Over the past three years, the company announced a series of acquisitions in Brazil, including the germplasm bank of Agropastoril Melhoramento, the soy seed companies Wehrtec and SoyTech, and the plant breeding technology of CVR.
"Our acquisitions mean we will be able to offer Latin American farmers the latest developments from our soy trait pipeline in highly competitive local varieties," said Reichardt. "Building on a broadened soy variety portfolio and our global trait research, we will be able to provide farmers with a wide range of maturity groups, tailored to the region's diverse growing conditions."
The acquisition will be filed for clearance before the Antitrust Authority in Argentina.
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. It is one of the world's leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control.