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Corteva Agriscience acquires Clearfield Canola Production System in Canada and the U.S. from BASF
Feb. 21, 2019
Corteva Agriscience
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United States
BASF Agricultural Solutions
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Germany
Corteva Agriscience™, Agriculture Division of DowDuPont (NYSE: DWDP), today announced that it has acquired the Clearfield® Canola Production System (“Clearfield® canola”) in Canada and the United States from BASF. Clearfield® canola is a globally-recognized non-genetically modified herbicide tolerance (HT) system, consisting of an herbicide tolerance trait and Imidazolinone (IMI) herbicides sold today in Canada primarily under the brand, Ares®.
“This bolt-on acquisition strengthens Corteva Agriscience’s already established position in Clearfield® canola seeds and traits and positions us well to deliver a holistic trait and herbicide solution to growers – a strong proof point of our ongoing commitment to expanding grower choice and delivering a complete solution for farmers,” said Rajan Gajaria, Executive Vice President Business Platforms for Corteva Agriscience. “This transaction supports Corteva Agriscience in supplying genetics for one of the most consumed vegetable oils globally, together with the heart-healthy Omega-9 oil segment, which reflects our continued focus on addressing consumer and farmer needs through differentiated offerings.”
The acquisition enables Corteva Agriscience, which previously licensed the Clearfield® canola trait in both the Pioneer® and Brevant™ seeds (previously Nexera™) brands, to expand its position to include out-licensing of the Clearfield® canola trait to other seed companies in Canada and the United States. In addition, acquiring the imazamox/imazapyr herbicides under the brand name Ares® and the imazamox herbicides under the Tensile® brand in Canada, provides Corteva Agriscience with the full canola system to offer to its customers and potential licensee partners in these important markets.
The financial terms of the agreement were not disclosed.
Source: Corteva Agriscience
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