Monsanto purchases five seed companies
Jun 28, 2006 5:47 PM
Monsanto’s subsidiary American Seeds Inc. (ASI) just increased its family of regional seed companies by five. ASI announced plans to purchase on July 1 Kruger Seed Company, Dike, IA; Diener Seeds, Reynolds, IN; Sieben Hybrids, Geneseo, IL; Trisler Seed Farms, Fairmount, IL; and Campbell Seed, Tipton, IN.
A news release from Monsanto reported that ASI made the new purchases to increase its reach in “underserved geographies with a technology-rich, locally oriented business model.” The businesses are being acquired in a cash transaction totaling $77 million. The five companies represent about 1.4% of the U.S. seed market and 2% of the soybean seed market.
Dennis Kruger, president of Kruger Seed, stated, “Joining American Seeds Inc. not only expands our pool of genetics and traits, but ensures our ability to do so in the future. In short, this new relationship provides our customers with the better of two worlds — the ability to provide the newest innovations in the industry while continuing to operate autonomously and regionally.”
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