Monsanto to acquire Brazil sugar cane companies
Monsanto has agreed to acquire the Brazilian sugar cane seed companies, CanaVialis and Alellyx, in a $290 million deal. Monsanto will buy the parent company, Aly Participacoes, from the Votorantim Group (Sao Paulo, Brazil) “as soon as [is] practical”. Alellyx is an applied genomics company that is focused on developing biotechnology traits primarily for sugar cane, while CanaVialis is the world's largest private sugar cane breeding company. Monsanto hopes the acquisitions will allow it to bring new trait technologies to market by 2016. It does not expect an increase in earnings through the acquisition in the near term.