Syngenta India sells part of seed business to Crystal Crop Protection 5th April 2018
Crystal Crop Protection has announced the acquisition of certain seed and fodder business units from Syngenta India. Syngenta’s decision to sell part of its seed business comes in the wake of government’s control over Indian seed market by fixing maximum sale price and royalty value for the technology provider.
“The company has acquired Indian grain sorghum, fodder sorghum (SSG) and pearl millet seeds business including their germplasms, plant variety protection applications and registrations and market authorisations from Syngenta,” Crystal Crop Protection said in a statement. The company said it has also acquired seed brands Mahalaxmi (Sorghum), Atheeva (Pearl Millet) and SX-17 (SSG).
“Syngenta is divesting the pearl-millet, sorghum and fodder business to bring stronger focus and synergy to its core diversified field crop and vegetable seeds strategy,” Syngenta India, South Asia Vice President (Business Sustainability) K C Ravi said in a separate statement.
Crystal Crop will now have strong breeding program in all its focus crops — cotton, maize, rice, grain sorghum, pearl millet and SSG, he added.
“We believe in taking technology, innovation and manufacturing to the next level. With acquisition of seeds from Syngenta, we will strengthen our seed portfolio,” Crystal Crop Protection Managing Director Ankur Aggarwal said.
Crystal Crop has made a number of acquisitions in past few years. The acquisitions are part of its strategy to add value to its business.