Bayer to acquire Brazilian soybean firm SoyTech
Bayer CropScience has agreed to acquire the Brazilian holding company, Goiânia Investimentos e Participações. It controls the seed research enterprise, SoyTech Seeds Pesquisa em Soja (Goiânia). The move will enhance Bayer’s R&D capacity in soybeans, it says. The company notes that it already holds a key position in the soybean pesticide market in Brazil, and that the acquisition will allow the development of “integrated solutions”. Bayer chief executive for its Brazilian and Latin American operations Marc Reichardt emphasised the point, saying the company will seek “hi-tech and integrated solutions”. Director of Bayer’s seed and trait BioScience operation in Latin America Alex Merege says that products will come from “our expertise in seed biotechnology” and SoyTech know-how.