Nordic Seed acquires seed breeding facilities in Germany
Nordic Seed will take over certain operations of Monsanto Saaten related to hybrid rye seeds to Nordic Seed in Germany.
Under the agreement, Nordic seed will acquire Monsanto’s breeding, development, and seed production business areas related to hybrid rye seeds, including the cultivation of pre-foundation and foundation seed of rye seeds.
Upon closure of the deal, the business areas will be transferred to a new company, Nordic Seed GmbH. Nordic Seed plans to continue the current business activities of these operations unchanged. Employees of the transferred business areas will become Nordic Seed employees.
“This transaction represents a long-term strategic investment for Nordic Seed in Germany,” said Kim Bonde, CEO for Nordic Seed A/S. “We expect the investment to improve our ability to deliver high performance hybrid rye seeds to our farmer customers as well as to increase the assortment of hybrid seeds we can provide.”
“The addition of a hybrid rye seed program to Nordic Seed’s existing cereal breeding portfolio fills a strategic gap and offers new business opportunities, particularly in Central and Eastern Europe. It will help expand the range of crop rotation options available to farmers,” he added.
“I am confident that the sale of these business areas to Nordic Seed will create new opportunities for customers and employees of both companies,” said Björn Neumann, Managing Director of Monsanto Saaten GmbH, which remains active in the breeding, marketing, and sale of winter oilseed rape and maize.
The closure is subject to several conditions and is expected to take place in several weeks. Financial details of the transaction were not disclosed.