20 November 2012 07:16 [Source: ICIS news]
SINGAPORE (ICIS)--Syngenta will acquire US-based sunflower seeds producer Sunfield Seeds for an undisclosed fee, the Swiss agrochemicals firm said on Tuesday.
“The acquisition represents an important step in the implementation of Syngenta’s sunflower strategy by strengthening supply chain capabilities to enable future growth,” it said.
The transaction is expected to close by the end of 2012.
Sunfield Seeds delivers sunflower seeds production and processing services to more than 30 countries, according to Syngenta.
Currently, the sunflower seeds market is valued at around $1bn (€780m), of which more than 75% comes from emerging markets where the transition towards high-value hybrid sunflower seed is growing, it added.
($1 = €0.78)
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