Acquisition Bayer Crop Science Acquires Vegetable Seed Company Seed Works India
Bayer Crop Science has announced the signing of an agreement to acquire Seed Works India, based in Hyderabad. The company is specialized in breeding, production, and marketing of hybrid seeds of tomato, hot pepper, okra and gourds.
Monheim/Germany – The purchase will strengthen Bayer Crop Science’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 of Vegetable Seeds at Bayer Crop Science.
Seed Works India was founded in 1998 and 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 to growers across India. In fiscal year 2013/2014, the company generated sales of INR 1,035 million (12 million euro).
“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,” emphasized 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.”
New seed varieties
Closing of the acquisition is expected by beginning of July. Eventually, the operations of Seed Works India will be integrated into the Bayer Crop Science network, and existing and forthcoming varieties will be marketed under the company’s Nunhems brand.