June 13, 2012
MONHEIM, GermanyBayer CropScience has entered into an agreement to acquire the watermelon and melon seed business of Abbott & Cobb, Inc., a privately-held seed company headquartered in Feasterville, Pa., for an undisclosed amount. The acquisition, which is expected to close within a few weeks, will strengthen the vegetable seed business of Bayer CropScience, which operates under the Nunhems brand.
Abbott & Cobb has a robust watermelon position in the United States with increasing business in Mexico, Australia and Asia. The melon business and the germplasm will broaden Bayer CropScienc's existing seed portfolio further and will be the basis for future new hybrids. Abbott & Cobb will continue with its remaining business with crops such as sweet corn, pepper and squash.
The demand for healthy fruits and vegetables is increasing worldwide, and this segment is of crucial importance for Bayer CropScience. We plan to achieve sales of about 3 billion with seeds, traits and crop protection solutions for fruits and vegetables by 2020. Our vegetable seed business is essential for this," said Sandra E. Peterson, CEO of Bayer CropScience.
On June 7, Bayer CropScience inaugurated its 12 million expansion its vegetable research and development center in Leudal, The Netherlands. The existing research building, which tripled in size to 6,400 square meters, is equipped with state-of-the-art laboratories for seed technology, cell biology and molecular breeding research, as well as high-throughput biotech services.
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