1 min read.Updated: 20 Oct 2021, 05:01 PM ISTLivemint
According to Crystal Crop, both organizations will work together to close the transaction by December 2021
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Crystal Crop Protection Ltd, a crop solutions company, on Wednesday said it has entered into a definitive agreement with Bayer CropScience to acquire Cotton, Mustard, Pearl Millet and Grain Sorghum hybrids in India. Both organizations will work together to close the transaction by December 2021, the company said in a statement.
The business acquired by Crystal Crop Protection represents a very small portion of Bayer’s Indian and global business portfolio.
N.K. Aggarwal, chairman, Crystal Crop Protection said, “[T]his acquisition is a step forward to provide high performance seeds for sustainable growth of Indian agriculture."
With this acquisition, Crystal will become strong in its field crops seed business as it comes with strong brands and R&D capabilities.
Sarjiwan Manhas, chief executive officer, seed business, Crystal Crop Protection, added, “These acquired crops have an excellent strategic fit in our seeds portfolio and will support us in improving our footprints in Indian seeds market."
D. Narain, senior Bayer representative, South Asia and CEO and managing director, Bayer CropScience Ltd, said, “While we have divested a small portion our business portfolio, Bayer remains fully committed to the long-term growth of Indian agriculture and will continue to bring next-generation technologies that drive agricultural productivity, enable farmer prosperity and promote sustainable agriculture."
Bayer CropScience will continue to drive the business until full transfer to Crystal Crop.
Crystal Crop sells a wide range of crop protection, seeds and farm mechanization products. It has integrated operations, from undertaking R&D to manufacturing and delivering products to farmers across India through an extensive distribution network.
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