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Seminis

From Wikipedia, the free encyclopedia
Seminis, Inc.
Company typeSubsidiary
Founded1994
Headquarters,
RevenueUS$ 606 million (2007)[1]
Number of employees
3,000 (2007, approximate)[1]
ParentBayer AG
Websitewww.vegetables.bayer.com/us/en-us/products/seminis.html

Seminis is a developer, grower, and marketer of fruit and vegetable seeds, currently a subsidiary of Bayer. Seminis' hybrids claim to improve nutrition, boost crop yields, limit spoilage and reduce the need for chemicals. Their retail line includes over 3,500 seed varieties.

History

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Seminis was established in 1994 by Alfonso Romo under his Savia Group, a part of the Empresas La Moderna S.A. conglomerate, to consolidate leading companies in the fragmented fruit and vegetable seed industry.[2] The goal was realized by takeovers of several companies, including Asgrow, Petoseed, Royal Sluis, Bruinsma Seeds, and Genecorp.[3][4]

In 1996, Romo sold the field crop business of Seminis to Monsanto for $240 million.[5]

In 1999, Savia took Seminis public, in which Savia retained control of the company.[6]

In September 2003, Savia took Seminis off the public markets for approximately $650 million via an investment of approximately $222 million from Fox Paine & Company and additional cash and stock from Savia and related entities.[7][8][9]

On March 23, 2005, the Monsanto Company announced that it had completed its acquisition of Seminis. Monsanto paid $1 billion in cash and $400 million assumed debt, plus a performance-based payment of up to $125 million payable by 2007.[10]

In 2018, Bayer acquired Monsanto and all of its seed brands, including Seminis.[11]

References

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  1. ^ a b "Seminis ~ About Seminis". Seminis. Archived from the original on March 25, 2009. Retrieved November 16, 2023.
  2. ^ "Lord of the seeds". The Economist. January 27, 2005. Archived from the original on September 27, 2018.
  3. ^ Baker, David R. (December 17, 1995). "Seeding Global Market : Merger of Saticoy Firm Will Grow Distribution". Los Angeles Times. Saticoy. Archived from the original on September 22, 2022. Retrieved September 22, 2022.
  4. ^ "Seminis ~ About Seminis ~ History". Seminis. Archived from the original on March 1, 2012.
  5. ^ "Mexican Firm Following Growth Strategy". Los Angeles Times. Monterrey. Reuters. October 11, 1996. Archived from the original on March 15, 2023.
  6. ^ Vrana, Debora (May 31, 1999). "Agricultural Seed Firm Seminis Is Seeking to Reap Capital With IPO". Los Angeles Times. Archived from the original on September 6, 2020.
  7. ^ "Savia and Fox Paine complete previously announced acquisition of Seminis for $3.78 per share" (Press release). Oxnard, California and San Francisco, California: SeedQuest. September 29, 2003. Archived from the original on December 8, 2003.
  8. ^ Nagel, John (2003). "Fox Paine, Romo buys into Seminis" (PDF). The Deal. Mexico City. Archived (PDF) from the original on March 4, 2016.
  9. ^ Fulmer, Melinda (December 14, 2002). "Seminis to Be Acquired in $650-Million Deal". Los Angeles Times. Archived from the original on March 5, 2016.
  10. ^ "Monsanto completes Seminis deal". Globe Gazette. St. Louis. Associated Press. March 24, 2005. Archived from the original on November 16, 2023. Retrieved November 16, 2023.
  11. ^ "History | Seminis". Seminis. Archived from the original on August 2, 2021.
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