The FINANCIAL -- Monheim, October 7, 2011 – Bayer CropScience has successfully completed
the acquisition of the oilseed rape business of the seed company Raps
GbR, headquartered in the state of Schleswig-Holstein, Germany.
This mainly includes varieties that are already on the market and the company’s breeding material. The acquisition strengthens the oilseed rape breeding activities of Bayer CropScience. Financial details were not disclosed.
For a number of years now, Bayer has pursued its own breeding program for winter oilseed rape. In North America the company is a market leader in seed, plant traits and crop protection products for canola. The business is currently being expanded to other oilseed rape-growing areas, including Europe and countries in Southeast Asia. Bayer CropScience aims to launch the first oilseed rape varieties onto the European market in 2012 – initially in the Czech Republic and then possibly in other European countries.
“The agreement with Raps GbR – which has more than 20 years of breeding experience, a broad portfolio of varieties and an experienced workforce – is an important step for our oilseed rape strategy,” said Bayer CropScience CEO Sandra E. Peterson. “It will further accelerate Bayer CropScience’s entry into the European oilseed rape market.”
Raps GbR Managing Director Sören A. Petersen added, “We are pleased that our decades of successful breeding activities and our development pipeline will now be maintained and expanded by a strong partner. The agreement with Bayer CropScience will mean an even greater offer of varieties that will fully meet the future needs of farmers.”
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