Corteva buys Cargill’s high oleic canola breeding business

Cargill Canada is selling its high oleic canola seed breeding business to Corteva Agrisciences, the companies confirmed this week.

The deal, which was expected to close on Oct. 31, will not affect Cargill’s high oleic canola contracting program in Western Canada.

Cargill will also continue to process canola oil at oilseed crushing plants in Saskatchewan and Alberta.

However, the deal will result in the closure of a Cargill research and seed production facility located at Aberdeen, Sask.

Financial terms of the deal were not disclosed.

″We will continue to offer the same Victory high oleic canola program, while continuing our same canola contracting program in Western Canada″ Cargill’s Chantelle Donahue said in an email.

″We are working closely with our employees through this transition, including, where possible, providing employment opportunities. Cargill remains committed to the canola industry in Saskatchewan and across Western Canada.″

Cargill opened its Aberdeen research and production centre about 14 years ago.

The facility supported the testing, commercialization and multiplication of new canola varieties for the company’s specialty oil program in Western Canada.

Under the deal, Corteva will acquire all intellectual property associated with Cargill’s canola breeding program, including experimental canola lines currently under development, genetic markers and traits.

The deal does not include physical assets at Aberdeen, such as buildings and machinery.

Read more at The Western Producer.