Further milestone to strengthen the fruits and vegetables business:
Bayer CropScience acquires US-based biological company
AgraQuest for close to US$ 500 million
· Unique technology platform and promising biological pipeline
· Wide range of established green product brands
· Purchase includes R&D and manufacturing facilities
Monheim, July 3, 2012 – Bayer CropScience announced today that it has signed an agreement to purchase AgraQuest, Inc. for a purchase price of US$ 425 million (approximately EUR 340 million) plus milestone payments. AgraQuest, headquartered in Davis, California, USA, is a global supplier of innovative biological pest management solutions based on natural microorganisms. This acquisition will enable Bayer CropScience to build a leading technology platform for green products and to strengthen its strategically important fruits and vegetables business, while also opening new opportunities in other crops and markets. Green products control a broad spectrum of pests and diseases and offer farmers integrated pest management programs to minimize development of resistance and maximize crop yields. The acquisition is subject to approval by the relevant authorities.
Aug. 29, 2012, 1:31 a.m. EDT
By Robert Berendes
ZURICH -(MarketWatch)- Syngenta AG /quotes/zigman/270167/quotes/nls/syt SYT -2.69% said Wednesday it has agreed to buy the DuPont Professional Products insecticide business for $125 million to expand its range of products for golf course and lawn care professionals, and to strengthen its portfolio for the control of home pests.
MAIN FACTS:
-DuPont Professional Products insecticide business is a leading supplier of innovative products for the professional turf, ornamentals and home pest control markets.
-Under the terms of the agreement, Syngenta will acquire a global business including established pest control brands Advion and Acelepryn and other intellectual property, as well as a number of employees.
-Syngenta will also access the related active ingredients and formulated products from DuPont through exclusive supply and licensing agreements.
-The transaction is expected to close in the 4Q 2012.