Germany’s BASF buys the vegetable seeds business from Bayer for $8.8b
Germany chemical company BASF has completed the acquisition of the vegetable seeds business from Bayer at an estimated cost of $8.8 billion. Bayer’s global vegetable seeds business mainly operates under the brand Nunhems. The transaction which was concluded last week, adds a renowned brand to BASF’S portfolio. The vegetable seeds business is expected to enhance BASF’S global offer to farmers and strengthen its seed platform. It will also complement BASF’S recently expanded Agricultural Solutions portfolio, which includes seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. The vegetable seeds business comprises 24 crops and about 2,600 varieties. It also includes strong research and development and breeding systems with over 100 unique breeding programmes in more than 15 crops. The transaction completes BASF’S acquisition of a significant range of businesses and assets with combined 2017 sales of $2.5 billion. EAST AFRICA is set to act as the focal point for the newly integrated CFAO Group Africa, following a decision by its parent company Toyota Tsusho Corporation to integrate its operations on the continent.
The integration, which kicked off eight months ago, has created a conglomerate of 140 companies with a presence in 53 African countries, and 15 production facilities.
Group chairman and CEO Richard Bielle said the company plans to increase its local manufacturing, assembly and value-addition capacity.
“Our business model is to control the value chain as much as we can from the plant to the customer,” said Mr Bielle.
CFAO Group has interests in the automotive sector, healthcare, energy, infrastructure development, agriculture, manufacturing, technology and fast-moving consumer goods. In Kenya and the region, CFAO will operate eight main companies: DT Dobie, Toyota Tsusho East Africa, Tyre Distributors Africa, Toyota Tsusho Fertiliser Africa, Tsusho Capital, Toyota Tsusho Auto Mart Kenya, Laborex Kenya and Toyota Kenya.
Kenya country representative Dennis Awori said CFAO plans to expand across the region through strategic partnerships and investment in infrastructure.