Crystal Crop acquires Syngenta’s part of seed biz

Swiss-based agri-business firm Syngenta sold some part of its seed business in India to Crystal Crop Protection for an undisclosed amount.

Syngenta’s decision to sell part of its seed business comes in the wake of government’s control over Indian seed market by fixing maximum sale price and royalty value for the technology provider. 

“The company has acquired Indian grain sorghum, fodder sorghum (SSG) and pearl millet seeds business including their germplasms, plant variety protection applications and registrations and market authorisations from Syngenta,” Crystal Crop Protection said in a statement.

The company has also acquired seed brands Mahalaxmi (Sorghum), Atheeva (Pearl Millet) and SX-17 (SSG), it said.

“Syngenta is divesting the pearl-millet, sorghum and fodder business to bring stronger focus and synergy to its core diversified field crop and vegetable seeds strategy,” Syngenta India, South Asia Vice President (Business Sustainability) K C Ravi said in a separate statement. 

Crystal Crop will now have strong breeding program in all its focus crops — cotton, maize, rice, grain sorghum, pearl millet and SSG, he added. 

The company, however, did not disclose the deal amount. Ernst & Young LLP acted as advisor to Syngenta on the above divestment.