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Vilmorin & Cie/Grupo Limagrain acquires Sursem and Geneze
Dec. 3, 2018
Limagrain
FranceFollow
FranceGeneze Sementes S.A.
BrazilFollow
BrazilVilmorin & Cie signed the purchase agreement for two companies from South America, Sursem and Geneze, which were previously part of the Pampa Agribusiness Investment Fund.
Sursem, located in Argentina and Geneze Sementes in Brazil, is dedicated to the research, production and commercialization of corn, wheat, sunflower and soybean seeds, with a main focus on maize.
They have four research stations, two production units and have a wide commercial distribution network. Last year they reached a turnover of US$40 million and employ more than 160 employees.
In Argentina, with the acquisition of Sursem, Limagrain South America, which has invested in research since 2010 of corn, wheat and sunflower, will strengthen its presence in the market, significantly increasing the activity of research, production and commercial structure, gaining immediately access to commercial positions in corn, wheat and sunflower.
Argentina is the fourth largest market for maize seed in the world and is a relevant market for temperate maize germplasm with a complementarity with genetic resources with Europe, North America and South Africa. With this operation, Vilmorin & Cie will consolidate its market share in Brazil. This acquisition is part of the global advancement strategy of Vilmorin & Cie, reaching a major milestone in the internationalization of the Large Grain Seeds division of the Limagrain group, with a significant reinforcement of its current organization and commercial positioning of the most important crops in South America.
These two companies will be integrated into the business unit of Limagrain South America, which had sales of approximately €55 million in the fiscal year 2017-2018, mostly in Brazil.
Source: Limagrain
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