ST. LOUIS, June 19 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE:MON) has agreed to acquire Marmot, S.A., which operates Semillas Cristiani Burkard (SCB), a privately-held seed company headquartered in Guatemala City, Guatemala. Once completed, the acquisition will build on Monsanto’s corn business leadership and enable it to offer farmers in Central American countries broader access to corn seed varieties. The transaction will be completed as soon as practical. Additional terms of the agreement were not disclosed.
“With more than 40 years in the seed business, SCB is the leading provider of high-quality products to farmers in Central America,” said Brett Begemann, Monsanto’s executive vice-president of Global Commercial. “This acquisition, which solidifies Monsanto’s position as the leading corn seed provider in the Latin and Central American regions, will enable our companies to provide new and innovative higher-yielding corn seed offerings to farmers.”
“We are pleased to have entered into this agreement with Monsanto,” said Antonio Juan Cristiani Burkard, SCB’s President, Founder and Chief Executive Officer. “The agreement will allow both Monsanto and SCB to leverage their strong R&D capabilities, germplasm base and breeding capabilities to bring new technology to farmers.”
SCB focuses on hybrid corn seed production and is a leading provider of corn, sorghum, forage sorghum, soybeans, and pastures (grass-type seeds). The company operates in twelve countries throughout North, Central and South America and the Caribbean. SCB’s General Manager Antonio Cristiani Moscoso will continue to lead the SCB business and its 360 employees.
SCB adds a strong market presence to strengthen Monsanto’s seed footprint in the region. The company has long standing relationships with farmers and works with more than 900 dealers in the Central American region. SCB is also a distributor of Seminis vegetable seeds, a product of Monsanto’s vegetable seed division.
Monsanto believes that the acquisition will enhance the company’s international corn seed business and its genetics portfolio, enabling the company to deliver new seed offerings to farmers. Longer term, pending regulatory approvals, Monsanto believes the acquisition holds the opportunity to expand the potential adoption of biotechnology traits internationally.
About Semillas Cristiani Burkard
Founded in 1966, Semillas Cristiani Burkard is a leading seed company in the Latin America Tropics headquartered in Guatemala. It is devoted to the development of seed for corn, grain sorghum, forage sorghum hybrids and soybean varieties.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information, please visit the company’s web site at http://www.monsanto.com/.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are “forward-looking statements,” such as statements concerning the company’s anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company’s actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company’s exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company’s research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company’s estimates related to distribution inventory levels; the company’s ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company’s facilities; and other risks and factors detailed in the company’s most recent periodic report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
Note to editor: DEKALB, Deltapine, SmartStax, Roundup Ready, and Roundup Ready 2 Yield are trademarks of Monsanto Company and its wholly owned subsidiaries.
First Call Analyst:
FCMN Contact: malane@monsanto.com
Source: Monsanto Company
CONTACT: Analysts, Scarlett Lee Foster, +1-314-694-8148, or Media, Danielle Jany, +1-314-694-2478, both of Monsanto Company
Web site: http://www.monsanto.com/
Company News On-Call: http://www.prnewswire.com/comp/114341.html
-------
Profile: My Profile 1
