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Corteva expands canola market share with acquisition

TAGS: Business
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DowDuPont’s agriculture division acquires Clearfield Canola Production System in Canada and U.S. from BASF.

Corteva Agriscience, agriculture division of DowDuPont, announced that it has acquired the Clearfield Canola Production System (“Clearfield canola”) in Canada and the U.S. from BASF. Clearfield canola is a globally recognized, non-genetically modified, herbicide-tolerance system consisting of an herbicide tolerance trait and Imidazolinone herbicides currently sold in Canada primarily under the brand name Ares.

“This bolt-on acquisition strengthens Corteva Agriscience’s already established position in Clearfield canola seeds and traits and positions us well to deliver a holistic trait and herbicide solution to growers – a strong proof point of our ongoing commitment to expanding grower choice and delivering a complete solution for farmers,” said Rajan Gajaria, executive vice president business platforms for Corteva Agriscience. “This transaction supports Corteva Agriscience in supplying genetics for one of the most consumed vegetable oils globally, together with the heart-healthy omega-9 oil segment, which reflects our continued focus on addressing consumer and farmer needs through differentiated offerings.”

The acquisition enables Corteva Agriscience, which previously licensed the Clearfield canola trait in both the Pioneer and Brevant seed brands (previously Nexera), to expand its position to include out-licensing of the Clearfield canola trait to other seed companies in Canada and the U.S. In addition, acquiring the imazamox/imazapyr herbicides under the Ares brand and the imazamox herbicides under the Tensile brand in Canada provides Corteva Agriscience with the full canola system to offer to its customers and potential licensee partners in these important markets, according to the announcement.

The financial terms of the agreement were not disclosed.

Corteva Agriscience is intended to become an independent, publicly traded company when the previously announced spin-off is completed by June 2019. The division combines the strengths of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences, according to a company statement.

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