Seminis
 | |
| Company type | Subsidiary |
|---|---|
| Founded | 1994 |
| Headquarters | , |
| Revenue | US$ 606 million (2007)[1] |
Number of employees | 3,000 (2007, approximate)[1] |
| Parent | Bayer AG |
| Website | www.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
[edit]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
[edit]- ^ a b "Seminis ~ About Seminis". Seminis. Archived from the original on March 25, 2009. Retrieved November 16, 2023.
- ^ "Lord of the seeds". The Economist. January 27, 2005. Archived from the original on September 27, 2018.
- ^ 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.
- ^ "Seminis ~ About Seminis ~ History". Seminis. Archived from the original on March 1, 2012.
- ^ "Mexican Firm Following Growth Strategy". Los Angeles Times. Monterrey. Reuters. October 11, 1996. Archived from the original on March 15, 2023.
- ^ 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.
- ^ "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.
- ^ Nagel, John (2003). "Fox Paine, Romo buys into Seminis" (PDF). The Deal. Mexico City. Archived (PDF) from the original on March 4, 2016.
- ^ Fulmer, Melinda (December 14, 2002). "Seminis to Be Acquired in $650-Million Deal". Los Angeles Times. Archived from the original on March 5, 2016.
- ^ "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.
- ^ "History | Seminis". Seminis. Archived from the original on August 2, 2021.
External links
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