Swiss Syngenta divests US flowers distribution and brokerage

14 November 2012 08:03  [Source: ICIS news]

SINGAPORE (ICIS)--Swiss agrochemicals firm Syngenta said on Wednesday it has agreed to sell its US flower distribution and brokerage, Syngenta Horticultural Services, to US-based Griffin Greenhouse Supplies for an undisclosed fee.

The transaction will include the transfer of Syngenta Horticultural Services’ assets and employees as well as its distribution and brokerage capabilities located in the US, Syngenta said.

Syngenta Horticultural Services posted sales of $96m (€76m) in 2011, according to Syngenta.

“This transaction allows Syngenta to strengthen focus on our core genetics and plant protection capabilities,” added Robert Berendes, Syngenta’s head of business development.
($1 = €0.79)

By: Nurluqman Suratman

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