Bayer CropScience acquires vegetable seed co SeedWorks India

Bayer CropScience acquires vegetable seed co SeedWorks India

6:38 AM, 2nd June 2015
Bayer CropScience acquires vegetable seed co SeedWorks India
Joachim Schneider, head, vegetable seeds, Bayer CropScience. (File photo)

MONHEIM, GERMANY: Bayer CropScience AG said it has agreed to acquire Hyderabad-based SeedWorks India Pvt Ltd, a company specialized in breeding, production, and marketing of hybrid seeds of tomato, hot pepper, okra and gourds. Closing of the acquisition is expected by beginning of July. Financial terms were not disclosed, by the companies.

SeedWorks, founded in 1998, generated sales of Indian Rupees 1,035 million (€12 million) for the fiscal year 2013/2014. It has research and seed processing locations in Bangalore and Hyderabad respectively. The company employs 180 full-time employees and markets its seed under the US Agriseeds brand across India, Bayer CropScience said.

Eventually, the operations of SeedWorks India will be integrated into the Bayer CropScience network and all varieties will be marketed under the company’s Nunhems brand.

The purchase will strengthen Bayer CropScience’s vegetable seed business in India. “This is an excellent opportunity to underpin our leading market position in India in strategic crops like tomato, hot pepper and okra,” said Joachim Schneider, head, vegetable seeds, Bayer CropScience.

“The financial and technical resources of Bayer will further strengthen our ability to bring the highest quality seeds to our farmers, and the breadth of activity afforded by this affiliation will open a world of opportunity to our employees,” said Balaji Nukal, managing director, SeedWorks India.

“India is expected to become the world’s most populated country, passing China around 2028 and therefore faces a fast-growing demand for affordable food,” said Schneider. “By strengthening our footprint in India’s vegetable seed sector, we aim to make a strong contribution to increasing the productivity and quality of important food crops and give our full support to the nation’s smallholder farming base.”

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