Syngenta Purchases U.K. Breeding Company Floranova
At the end of July, Syngenta announced it had completed the acquisition of Floranova, a flower and home garden vegetable seeds breeder with a broad portfolio and customers in over 50 countries.
Syngenta and Floranova will continue to operate as independent companies.
Founded more than 40 years ago in the United Kingdom, Floranova has become well-known in the industry for its strong brand and for meeting the needs of growers in both established and emerging markets.
In 2017, Floranova generated high single digit USD million sales with a broad customer base ranging from the U.S. and Europe to the Middle East and Asia.
Michael Kester, head of flowers, Syngenta, said, “We are excited about the purchase which will help growers to manage changing consumers’ demand for a wider variety of crops to choose from. Floranova’s complementary seeds offer covers some important gaps in Syngenta’s portfolio and brings flower seed crops like pelargonium, petunia, begonia and a distinctive product line of patio vegetables, sold under the Vegetalis label.”
Jeff Colegrave, Floranova’s chairman, said, “I am proud of the achievements of Floranova during the period of my ownership; there has been exciting development and growth, particularly in the Asian markets. The acquisition of Floranova by Syngenta is excellent news for all stakeholders and will mean Floranova will be stronger and better placed to face the challenges in a highly competitive market place.”
“Our intent is to maintain and leverage the Floranova brand in a dual brand concept,” Kester said. “Both Syngenta and Floranova will continue to operate as independent companies, with their own distribution and differentiated portfolio. This provides exciting new opportunities to strengthen our overall presence in the global flowers market,” he added.
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