BAYER CropScience announced last week that it has entered into an agreement to purchase the start-up company FN Semillas S.A. based in Buenos Aires, Argentina.
FN Semillas specializes in the breeding, production and marketing of improved soybean seeds in Argentina.
Bayer said this acquisition ratifies its commitment in Argentina and marks the company's entrance into the national soybean seed market in the country. Financial details were not disclosed.
Since its establishment in 2010, FN Semillas has built a solid presence in the domestic market.
"Soybean is a strategic crop for the region and for Bayer CropScience, and this acquisition gives us access to quality germplasm for future variety and trait development," said Marc Reichardt, head of the Latin America region for Bayer CropScience. "With our existing product portfolio and FN Semillas S.A.'s value-added varieties, we are now in the position to provide Argentinian soybean farmers a comprehensive range of solutions, including seeds, crop protection products and services."
For Bayer, this acquisition is another step in building its global soybean seed platform and further underlines the importance of the Latin American region in this context.
Over the past three years, the company has announced a series of acquisitions in Brazil, including the germplasm bank of Agropastoril Melhoramento, the soybean seed companies Wehrtec and SoyTech and the plant breeding technology of CVR.
"Our acquisitions mean we will be able to offer Latin American farmers the latest developments from our soybean trait pipeline in highly competitive local varieties," Reichardt said. "Building on a broadened soybean variety portfolio and our global trait research, we will be able to provide farmers with a wide range of maturity groups tailored to the region's diverse growing conditions."
The acquisition will be filed for clearance before the Antitrust Authority in Argentina.