Syngenta on Tuesday announced that it will acquire Sunfield Seeds, a U.S.-based provider of sunflower seeds production and processing services to more than 30 countries.
The acquisition represents an important step in the implementation of Syngenta's sunflower strategy by strengthening supply chain capabilities to enable future growth.
Sunflower produces high value oil that is low in saturated fats. They are grown on around 25 million hectares globally. The sunflower seeds market is currently valued at around $1 billion of which more than 75% comes from emerging markets, where the transition towards high-value hybrid sunflower seed continues.
CEO Davor Pisk said, "Sunfield is already one of our strategic suppliers and we are pleased that its people and operations will now become part of Syngenta. Sunfield's grower network in the key Sacramento Valley region as well as its modern processing facilities and experienced management team will complement our product range and global market strength. Above all, the acquisition will enhance our ability to meet growing demand for our high quality sunflower seeds."
The transaction is expected to close by the end of 2012. Financial details were not disclosed.