Syngenta to divest Sugar Beet seeds business to DLF Seeds
Basel, Switzerland
ROSKILDE, Denmark, and BASEL, Switzerland – Syngenta and DLF Seeds announced today that they have entered into a sale agreement in relation to the acquisition of Syngenta’s global Sugar Beet seeds business by DLF Seeds. The transaction is subject to customary approval requirements (including local employee consultation procedures) and expected to close by the end of the third quarter of 2017. Financial terms of the transaction are not disclosed.
Jeff Rowe, President Global Seeds and North America for Syngenta, said: “This agreement with DLF Seeds, a strong and expanding global player, will leverage the leading germplasm and growth potential of Syngenta’s Sugar Beet seeds worldwide. DLF Seeds has a strong record in specialized seeds and in the integration of strategic acquisitions and offers excellent prospects for the Sugar Beet seeds business, enabling it to build on its expertise in serving industrial sugar producers.”
Truels Damsgaard, CEO of DLF Seeds, commented: “Sugar Beet seeds is a natural extension of our seeds business and it is an interesting high value crop. We see significant synergies within our technology and plant breeding tools benefiting both the sugar beet business and the forage & turf seed business. We consider the Syngenta Sugar Beet seeds business a good match with the strategic goals and vision for DLF Seeds.”
About Syngenta
Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. To learn more visit www.syngenta.com and www.goodgrowthplan.com. Follow us on Twitter® at www.twitter.com/Syngenta.
About DLF Seeds
DLF Seeds is a global seed company dealing in forage and turf seeds, and other crops. The company is a leading player providing grass and clover seeds to more than 80 countries. With headquarters in Roskilde, Denmark, and a strong focus on science and plant breeding, approximately 10% of the company’s 800 employees are dedicated to research. The company is owned by a cooperative of Danish farmers. To learn more visit www.dlf.com
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This document contains forward-looking statements, which can be identified by terminology such as ‘expect’, ‘would’, ‘will’, ‘potential’, ‘plans’, ‘prospects’, ‘estimated’, ‘aiming’, ‘on track’ and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract there for.
