Wednesday, January 26, 2005

Monsanto buys seed-maker Seminis for $1B

Big ag gets swallowed by bigger ag, as the agro-chemical and GMO king looks to widen its reach in the fruit/veggie seed market. Seminis produces over 3500 varieties of seeds (Asgrow, Petoseed, and Royal Sluis brands) and itself has a 20% share of the global market. The merger will make Monsanto the world's largest biotech/seed company, and it reflects the company's desire to reduce its reliance on GE crops due to increased consumer resistance/marketability and high research costs. According to the NY Times, less than 1% of Seminis' sales come from GE crops. [NYT, AP, Seminis]


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