Business Daily from THE HINDU group of publications
Saturday, Jun 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jun 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Mergers & Acquisitions Advanta buys sunflower seed biz of Limagrain, US Our Bureau Hyderabad, June 20 Advanta India Ltd has acquired the sunflower seed business of Limagrain in the US. The acquisition, done through its US subsidiary, involves mainly the sunflower breeding programme of Limagrain located in Fargo, North Dakota, according to the Hyderabad-based Advanta. In a notice to the BSE intimating the acquisition, the company said it would strengthen Advanta’s existing sunflower breeding programmes across the world. While not disclosing the deal value, the company claimed that it had one of the largest and strongest sunflower breeding groups in the world with market shares across Asia Pacific, Africa and Latin America. The present acquisition would bring in a lot of synergies to the subsidiary – Advanta US Inc., where we recently acquired Garrison & Townsend sorghum seed business, with many common customers, similar business philosophies in both companies, the company release said. It expands confectionery sunflower options for Advanta’s global market, while providing elite genetics to all sunflower market segments, the company said. Limagrain’s sunflower seed business has been into breeding and marketing sunflower hybrids for both the domestic and international markets using a multi-channel, private label marketing and distribution model. The business will continue to operate from its Fargo, North Dakota base along with all of the current staff. More Stories on : Mergers & Acquisitions | Overseas Investments | Oilseeds & Edible Oil
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