Swiss chemical and seed company Syngenta announced June 9 that it has entered into a sale agreement in which DLF Seeds will acquire Syngenta’s global Sugar Beet seeds business.
The transaction is subject to customary approval requirements and is expected to close by the end of the third quarter of 2017, the company said. Financial terms of the transaction were not disclosed.
“This agreement with DLF Seeds, a strong and expanding global player, will leverage the leading germplasm and growth potential of Syngenta’s Sugar Beet seeds worldwide,” said Jeff Rowe, president of Global Seeds and North America for Syngenta. “DLF Seeds has a strong record in specialized seeds and in the integration of strategic acquisitions and offers excellent prospects for the Sugar Beet seeds business, enabling it to build on its expertise in serving industrial sugar producers.”
Truels Damsgaard, chief executive officer of DLF Seeds, said, “Sugar Beet seeds is a natural extension of our seeds business, and it is an interesting, high-value crop. We see significant synergies within our technology and plant breeding tools benefiting both the sugar beet business and the forage and turf seed business. We consider the Syngenta Sugar Beet seeds business a good match with the strategic goals and vision for DLF Seeds.”