Image Source: Press TV
Aug 18, 2018
BASF, the German chemical firm has finalized the acquisition of Bayer’s global vegetable seeds business, which runs under the brand name Nunhems. BASF originally signed the agreement to purchase further businesses and assets from Bayer in April, which built on a deal signed in October last year to acquire significant parts of Bayer’s seed and non-selective herbicide businesses for a sum of €5.9bn.The transaction will add a new brand to BASF’s portfolio.
The closure completes BASF’s acquisition of a range of businesses and assets with combined 2017 sales of €2.2bn, which Bayer offered to divest as part of its takeover of Monsanto. The all-cash purchase price amounts to a total of €7.6bn following the latest completion.
BASF Agricultural Solutions division president Markus Heldtstated that with strong solutions from seeds to harvest, enabled by even better R&D capabilities and scale, the company will increase the competition in the market. Also the acquisition of the vegetable seeds business is anticipated to further enhance BASF’s offering to farmers worldwide.
Bayer’s vegetable seeds business includes 24 crops and approximately 2,600 varieties. It also includes well-established research and development (R&D) capabilities, as well as breeding systems comprising more than 100 breeding programmes featuring over 15 crops.
BASF completed the acquisition of various businesses from Bayer earlier this month, which included its canola seeds business in Canada and key field crop seeds such as cotton.
The deal is expected to complement and strengthen BASF’s seed platform, as well as its expanded portfolio of ‘Agricultural Solutions’ that includes seeds and traits, chemical and biological crop protection solutions, soil management, plant health, pest control and digital farming systems.