Bayer CropScience Completes AgraQuest Purchase

Bayer CropScience has completed its purchase of Davis, CA-based AgraQuest Inc., a global supplier of innovative biological pest management solutions. All required transaction waiting periods have expired without objection from the relevant competition authorities.

In July, Bayer CropScience announced its plans to acquire AgraQuest for a purchase price of $425 million plus milestone payments.

This acquisition will enable Bayer CropScience to build a leading technology platform for green products and pump up its fruit and veggie portfolio, while also opening new opportunities in other crops and markets. Green products control a broad spectrum of pests and diseases and offer farmers integrated pest management programs to minimize development of resistance and maximize crop yields.

"This acquisition strengthens our strategically important fruits and vegetables business," said Sandra Peterson, CEO of Bayer CropScience. "The global market for green products is expected to increase significantly over the years to come and we see additional growth opportunities in all agricultural crops as well as for our Environmental Science business and for Bayer´s Animal Health division."

$425 million+ acquisition to bolster Bayer’s fruit and vegetable business.