Bayer CropScience seeks to grow South American seed business
Agrochemicals giant Bayer CropScience has signed an agreement to acquire Biagro Group, a biological seed treatment producer with headquarters in Argentina.
The deal will allow Bayer to expand its soybean seed business in South America. Argentina and Brazil currently account for nearly 50% of global soybean production, and demand for soybean meal – which is used as a source of protein in animal feed – is on the rise.
Biagro produces seed inoculants, plant growth-promoting microorganisms and pest management products based on fungal and bacterial strains such as nitrogen-fixing Rhizobium. The firm employs around 140 staff and has production facilities in both Argentina and Brazil, where it is an established supplier to farmers.
Financial details of the takeover have not yet been disclosed.