Acquisition expected to expand Monsanto's hybrid corn portfolio in Central America enabling it to deliver dependable, high-yielding seeds to farmers. ST. LOUIS, June 19
ST. LOUIS, June 19 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE: MON)
has agreed to acquire Marmot, S.A., which operates Semillas Cristiani Burkard
(SCB), a privately-held seed company headquartered in Guatemala City,
Guatemala. Once completed, the acquisition will build on Monsanto's corn
business leadership and enable it to offer farmers in Central American
countries broader access to corn seed varieties. The transaction will be
completed as soon as practical. Additional terms of the agreement were not
disclosed.
"With more than 40 years in the seed business, SCB is the leading provider
of high-quality products to farmers in Central America," said Brett Begemann,
Monsanto's executive vice-president of Global Commercial. "This acquisition,
which solidifies Monsanto's position as the leading corn seed provider in the
Latin and Central American regions, will enable our companies to provide new
and innovative higher-yielding corn seed offerings to farmers."
"We are pleased to have entered into this agreement with Monsanto," said
Antonio Juan Cristiani Burkard, SCB's President, Founder and Chief Executive
Officer. "The agreement will allow both Monsanto and SCB to leverage their
strong R&D capabilities, germplasm base and breeding capabilities to bring new
technology to farmers."
SCB focuses on hybrid corn seed production and is a leading provider of
corn, sorghum, forage sorghum, soybeans, and pastures (grass-type seeds). The
company operates in twelve countries throughout North, Central and South
America and the Caribbean. SCB's General Manager Antonio Cristiani Moscoso
will continue to lead the SCB business and its 360 employees.
SCB adds a strong market presence to strengthen Monsanto's seed footprint
in the region. The company has long standing relationships with farmers and
works with more than 900 dealers in the Central American region. SCB is also
a distributor of Seminis vegetable seeds, a product of Monsanto's vegetable
seed division.
Monsanto believes that the acquisition will enhance the company's
international corn seed business and its genetics portfolio, enabling the
company to deliver new seed offerings to farmers. Longer term, pending
regulatory approvals, Monsanto believes the acquisition holds the opportunity
to expand the potential adoption of biotechnology traits internationally.
About Semillas Cristiani Burkard
Founded in 1966, Semillas Cristiani Burkard is a leading seed company in
the Latin America Tropics headquartered in Guatemala. It is devoted to the
development of seed for corn, grain sorghum, forage sorghum hybrids and
soybean varieties.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based
solutions and agricultural products that improve farm productivity and food
quality. For more information, please visit the company's web site at
http://www.monsanto.com.
Cautionary Statements Regarding Forward-Looking Information:
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Factors that could cause or contribute to such differences include, among
others: continued competition in seeds, traits and agricultural chemicals; the
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statements or any of the factors that may affect actual results.
Note to editor: DEKALB, Deltapine, SmartStax, Roundup Ready, and Roundup
Ready 2 Yield are trademarks of Monsanto Company and its wholly owned
subsidiaries.
SOURCE Monsanto Company
