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.
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