Corteva Takes Control of PhytoGen Seed
Corteva Agriscience has agreed to take over J.G. Bosell’s stake in their joint-venture company PhytoGen Seed Co. Financial terms of the deal were not disclosed.
PhytoGen Seed was formed in 1998 to focus on the US cottonseed industry with one of Corteva’s predecessors, Dow AgroSciences, owning a 53.5% stake. More recently, Corteva has operated the jv in the US market through wholly owned subsidiary Mycogen.
“This acquisition provides a solid proof point of our consistent commitment to driving long-term growth through targeted investments in solid margin opportunities that at the same time strengthen our ability to serve our customers,” said James Collins, Jr, CEO of Corteva Agriscience.
Steve Reno, president of the Corteva Seed Business Platform, added: “This step further strengthens Corteva Agriscience’s commitment to the cotton market – and positions the Company well to diversify and grow this business globally over time.”
Corteva said the PhytoGen portfolio, including PhytoGen Breeding Traits, PhytoGen varieties with both the Enlist cotton trait and WideStrike and WideStrike 3 insect protection, is well suited to help farmers protect their crops from potential yield-robbing pests.
