Monsanto today announced it acquired the North American canola seed assets of Advanta Seeds from Advanta B.V., a company recently purchased by Fox Paine Capital Fund II International, L.P., including the Advanta Seeds brand in Canada and the Interstate Seed brand in the United States. The addition of Advanta and Interstate's canola seed businesses reinforces Monsanto's commitment to the canola industry and is intended to strengthen Monsanto's ability to bring continued technology innovations to canola growers. "Our canola business is a part of one of three main crop focus areas for Monsanto, and the addition of the Advanta Seeds and Interstate canola seed businesses signals our commitment to the success of North American canola growers," said Kerry Preete, Monsanto's vice president of U.S. crop production. "The canola market is one where the infusion of new technology is making a real difference for our customers, so it makes sense for us to invest in a growing business."
"We're very proud of the organization we've been able to build and for the benefits we've been able to bring to canola growers," said Bruce Hovland, president and general manager for Interstate Seeds. "We see this as a great opportunity to continue to serve canola growers and bring them outstanding germplasm and new technologies."
In the United States and Canada, the Advanta Seeds and Interstate canola brands will complement Monsanto's existing canola seed business sold through its DEKALB brand. Continuing for the 2005 selling season, both Advanta Seeds and Interstate canola brands will continue to be marketed through their established dealer channels, while Monsanto integrates the breeding and production into its current canola program.
Monsanto views the purchase of the Advanta canola seed business as providing it with benefits that include quality canola germplasm, a strong canola breeding program, the Interstate and Advanta Seeds brands and a dedicated group of employees.
"We're excited that we'll be able to pair Monsanto's technology investment with Advanta Seeds and Interstate's established customer-focused approach," said Preete. "We believe that combining the outstanding germplasm and canola seed varieties from both programs will accelerate the development of new commercial seed varieties for our customers."
"In the longer term, pairing the canola business with our pipeline of traits for healthier oils and proteins, there continues to be the opportunity to use canola as a platform of more consumer-oriented products," said Preete.
Additional details of the agreement were not disclosed.
Monsanto Company is a leading provider of technology-based solutions and agricultural products that improve farm productivity and food quality.Monsanto
