Syngenta recently announced that
it has agreed to acquire Zeraim Gedera Ltd., a high-quality Israeli
vegetable seeds company focusing on high-value crops, including tomato,
pepper and melon.
Syngenta recently announced that it has agreed to acquire Zeraim Gedera Ltd., a high-quality Israeli vegetable seeds company focusing on high-value crops, including tomato, pepper and melon. Syngenta will buy all outstanding shares in the company from Markstone Capital Partners, an Israeli private equity group, for a consideration of $95 million, subject to closing adjustments. Zeraim Gedera Ltd.’s sales in 2006 were $33 million.
Israel is well known for high-quality germplasm and seed technologies. Zeraim Gedera has outstanding breeding capabilities as well as longstanding relationships with Israeli research institutes and universities. This acquisition will reinforce the growth and quality of Syngenta’s vegetable seeds business.
Zeraim Gedera was originally founded in 1952. It focuses on six high-end vegetable products for growers and consumers: tomatoes, sweet peppers, watermelons, melons, squash and cucumbers. The business will continue to trade under the Zeraim brand.
The transaction is expected to close this year, pending regulatory approvals.
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