Syngenta to buy Israeli seeds firm for $95m

09 July 2007 08:21  [Source: ICIS news]

SINGAPORE (ICIS news)--Syngenta, the Swiss agrochemicals group, said on Monday that it has agreed to acquire Israeli vegetable seeds company Zeraim Gedera for $95m (€69.4m).

Syngenta will buy all outstanding shares in the company from Markstone Capital Partners, an Israeli private equity group, it said in a statement.

The transaction was expected to close in 2007 pending regulatory approvals, it added.

“Zeraim Gedera’s portfolio and its strong presence in Mediterranean markets ideally complement our vegetable seeds business,” Mike Mack, chief operating officer of Syngenta Seeds said.

Zeraim Gedera, founded in 1952, posted sales of $33m in 2006. It focuses on six products namely tomatoes, sweet peppers, watermelons, melons, squash and cucumbers.

($1=€0.73)

By: Florence Tan
+65 6780 4359

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