Seminis

Seminis is the largest developer, grower and marketer of fruit and vegetable seeds in the world. Seminis' hybrids claim to improve nutrition, boost crop yields, limit spoilage and reduce the need for chemicals. Their retail line includes over 3,500 seed varieties.

For other uses, see Seminis (disambiguation).
Seminis, Inc.
TypeSubsidiary
Founded1994
Headquarters
St. Louis, Missouri
,
U.S.
Productsmore than 3,500 seed varieties
RevenueUS$ 569 million (2006)
Number of employees
3,000 (2007)
ParentBayer AG
Websitewww.seminis.com

History

Seminis was established in 1994 by Alfonso Romo under his Savia Group, a part of the Empresas La Moderna S.A. conglomerate, to consolidate leading companies in the fragmented fruit and vegetable seed industry.[1] The process was realized by takeovers of such companies (mainly US origin) as: Asgrow, Petoseed, Royal Sluis, Bruinsma Seeds, and Genecorp.[2]

In 1996, Romo sold the field crop business of Seminis to Monsanto for $240 million.[3]

In 1999, Savia took Seminis public, in which Savia retained control of the company.[4]

In September 2003, Savia took Seminis off the public markets for approximately $650 million via an investment of approximately $222 million from Fox Paine & Company and additional cash and stock from Savia and related entities.[5][6][7]

On March 23, 2005, Monsanto Company announced that it had completed its acquisition of Seminis. According to the press release announcing the deal, Monsanto paid $1.4 billion in cash and assumed debt, plus a performance-based payment of up to $125 million payable by 2007.[8]

In 2018, Bayer acquired Monsanto and all of its seed brands, including Seminis[9]

References
  1. Staff, The Economist. January 27, 2005 Lord of the Seeds
  2. Seminis history (official site) Archived 2012-03-01 at the Wayback Machine
  3. Reuters, via the Los Angeles Times. October 11, 1996 Mexican Firm Following Growth Strategy: Diversification: La Moderna has broadened its scope from cigarettes to agrobiotechnology. Its focus was to become a market leader in select fields.
  4. Debora Vrana for the Los Angeles Times. May 31, 1999. Agricultural Seed Firm Seminis Is Seeking to Reap Capital With IPO
  5. Press release. September 29, 2003 Savia and Fox Paine complete previously announced acquisition of Seminis for $3.78 per share
  6. John Nagel for The Deal. 2003 Fox Paine, Romo, Buys into Seminis
  7. Melinda Fulmer for the Los Angeles Times. December 14, 2002. Seminis to Be Acquired in $650-Million Deal
  8. Jack Kaskey for Bloomberg News. January 24, 2005 Monsanto to Buy Seed Seller Seminis for $1 Billion (Update3)
  9. https://seminis-us.com/about/history/


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.