By The Associated Press
Thursday, November 12, 2009
Swiss agrochemicals company Syngenta AG said Thursday it has acquired two lettuce seed companies based in California.
Syngenta declined to give financial details of the simultaneous acquisition of privately-owned Synergene Seed & Technology Inc. and Pybas Vegetable Seed Co.
Synergene Seed & Technology is based in Salinas, California. Pybas Vegetable Seed Co. is based in Santa Maria, California.
The move will put the Swiss company in a "significant position" in the North American lettuce market, Syngenta said in a statement.
"The acquired companies are highly complementary and combine a broad and deep range of proprietary germplasm with excellent breeding and production capabilities," said Davor Pisk, chief operating officer of Syngenta's seeds business.
Shares in Syngenta were down 0.1 percent at 258.40 Swiss francs ($256.70) on the Zurich exchange.