Denmark-based DLF Seeds has agreed to acquire the global sugar beet seeds portfolio of Switzerland-based agrochemical producer Syngenta as the Swiss group company prepares to be taken over by ChemChina.

The two companies said the transaction is subject to customary approval requirements, including local employee consultation procedures, and is planned to close by the end of this year’s third quarter. Financial terms were not disclosed.

Headquartered at Roskilde and owned by a cooperative of Danish farmers, DLF is regarded as a global player. Its portfolio includes forage and turf seeds as well as seeds for other crops. Its grass and clover seeds are sold in more than 80 countries. Some 10% of the company’s 800 employees are dedicated to research.

Jeff Rowe, president Global Seeds and North America, at Syngenta, said the deal will allow the Danish firm to leverage the leading germplasm and growth potential of Syngenta’s sugar beet seeds worldwide. With a strong record in specialized seeds and in the integration of strategic acquisitions, he said a DLF Seeds offers excellent prospects for the Syngenta sugar beet seeds business, enabling it to build on its expertise in serving industrial sugar producers.

DLF’s CEO, Truels Damsgaard, said sugar beet seeds are a natural extension of his company’s seeds business and an interesting high value crop. “We see significant synergies within our technology and plant breeding tools benefiting both the sugar beet business and the forage & turf seed business,” he commented, adding that the firm considers the Syngenta sugar beet seeds business a good match with its own strategic goals and vision.