Global plant genetics company GDM is set to acquire 100% of the shares in AgReliant Genetics. The acquisition looks to combine GDM’s soybean breeding expertise with AgReliant’s market leadership in corn breeding and genetics.
“The GDM and AgReliant teams share a commitment to helping growers get the highest yield for their fields, and we are excited to welcome them into the GDM family,” said Ignacio Bartolomé, CEO for GDM, in a news release. “This acquisition is a significant development for both companies and a major milestone in GDM’s growth strategy in North America. It will allow us to serve farmers with an expanded and differentiated high-performance portfolio of solutions and create new opportunities to drive innovation, accelerate business growth, and lead both sides of the acres.”
GDM will acquire AgReliant’s extensive corn germplasm rights, enabling GDM to offer growers a broader portfolio of solutions while maintaining the company’s focus on high performance and collaboration with the entire agricultural chain. GDM is expected to become the world’s fourth-largest corn genetics provider upon completion of the transaction.
“Farmers across North America stand to benefit tremendously from AgReliant joining GDM,” said Brian Barker, CEO for AgReliant, in a news release. “Together, we are combining global innovation with local insights to create a more powerful, integrated seed portfolio that delivers greater value to the farmers we serve.”
The transaction is subject to regulatory approvals in the United States by the Federal Trade Commission and the Department of Justice pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary closing conditions and approvals. GDM and AgReliant will continue to operate as separate entities until the transaction has closed.
