Agri Business

Bayer to divest cotton, mustard seed business in India to Crystal Crop Protection

Our Bureau Bengaluru | Updated on October 20, 2021

Transaction to close by December, deal size not disclosed

Crystal Crop Protection Limited is acquiring cotton, mustard, pearl millet and grain sorghum hybrids from Bayer in India.

Bayer Consumer Health eyes rising rural India for growth

Crystal has entered into a definitive agreement with Bayer in this regard and both companies in a joint statement said they expect to close the transaction by December 2021. However, the deal size was not disclosed.

The business acquired by Crystal Crop Protection represents a very small portion of Bayer’s Indian and global business portfolio, Bayer said in a statement.

Strategic fit for Crystal

NK Aggarwal, Chairman, Crystal Crop Protection Limited, said, “Staying true to our vision of inspiring growth of Indian farmers, this acquisition is a step forward to provide high-performance seeds for sustainable growth of Indian agriculture.”

With 25 collaborations in the bag, Bayer open to more in the pharma space

With this acquisition, Crystal will become strong in its field crops seed business as it comes with powerful brands and R&D capabilities.

Sarjiwan Manhas, CEO, Seed Business, Crystal Crop Protection, further added, “These acquired crops have an excellent strategic fit in our seeds portfolio and will support us in improving our footprint in Indian seeds market.”

D Narain, Senior Bayer Representative, South Asia and CEO & MD, Bayer CropScience Limited, said, “While we have divested a small portion of our business portfolio, Bayer remains fully committed to the long-term growth of Indian agriculture and will continue to bring next-generation technologies that drive agricultural productivity, enable farmer prosperity and promote sustainable agriculture.”

Bayer CropScience will continue to drive the business until full transfer to Crystal Crop Protection Ltd, the statement said. BayerCropScience shares were trading a tad lower at ₹5,164 a piece in a weak market Wednesday afternoon.

Published on October 20, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like