Bayer CropScience has agreed to acquire vegetable seeds producer SeedWorks India based at Hyderabad for an undisclosed sum. The deal is set to close in early July.
SeedWorks, which employs 180 people and last reported sales of around €12 million, specializes in the breeding, production and marketing of hybrid seeds for tomatoes, hot pepper, okra and gourds.
The company operates research and seed processing facilities in Bangalore and Hyderabad respectively and markets its products under the US Agriseeds brand to growers across India.
Bayer said the purchase will broaden its vegetable seed portfolio in India. It provides “an excellent opportunity” to underpin the German company’s leading market position in India in strategic crops such as tomato, hot pepper and okra,” said Joachim Schneider, head of Vegetable Seeds.
Balaji Nukal, managing director of SeedWorks India, said the financial and technical resources of Bayer will further strengthen his company’s business. The country is world’s largest producer of tomatoes.
At some point in the future, the operations of SeedWorks India are planned to be integrated into the Bayer CropScience network, with existing and future seed varieties marketed under the company’s Nunhems brand.