#CrystalCropProtection #BayerCropScience #Acquisition #Hybrids #IndianAgriculture
Crystal Crop Protection Ltd., a prominent research and development-based crop solution company in India, has recently announced its definitive agreement with Bayer to acquire a range of essential hybrids, including cotton, mustard, pearl millet, and grain sorghum, in India. The transaction is expected to be completed by December 2021, following collaborative efforts from both organizations.
While this acquisition represents a small portion of Bayer’s Indian and global business portfolio, it marks a significant stride for Crystal Crop Protection towards its vision of inspiring the growth of Indian farmers. The company aims to provide high-performance seeds that contribute to the sustainable development of Indian agriculture.
Chairman of Crystal Crop Protection Ltd., N K Aggarwal, expressed his enthusiasm about the acquisition, stating, “Staying true to our vision of inspiring the growth of Indian farmers, this acquisition is a step forward to provide high-performance seeds for sustainable growth of Indian agriculture.”
Crystal Crop Protection’s acquisition of these hybrids will bolster its position in the field crops seed business, strengthening its product portfolio with powerful brands and enhanced research and development capabilities. Sarjiwan Manhas, CEO of the Seed Business at Crystal Crop Protection Ltd., emphasized the strategic fit of these crops within their existing seeds portfolio and their potential to expand their presence in the Indian seeds market.
While Crystal Crop Protection assumes control over the acquired business, Bayer CropScience remains fully committed to the long-term growth of Indian agriculture. D. Narain, Senior Bayer Representative for South Asia and CEO & MD of Bayer CropScience Ltd., affirmed that despite divesting a small portion of their business portfolio, Bayer will continue to introduce next-generation technologies that drive agricultural productivity, enable farmer prosperity, and promote sustainable agriculture.
During the transitional period, Bayer CropScience will continue to oversee operations until the full transfer of responsibilities to Crystal Crop Protection Ltd.
The acquisition of key hybrids from Bayer CropScience by Crystal Crop Protection signifies a significant development in the Indian agricultural landscape. It demonstrates Crystal Crop Protection’s commitment to empowering farmers and strengthening the Indian seeds market while ensuring Bayer’s ongoing dedication to driving agricultural advancements in the country.