Syngenta signed agreements recently to acquire two lettuce seed companies — Pybas Vegetable Seed Co. Inc., Santa Maria, Calif., and Synergene Seed & Technology Inc., Salinas, Calif.
The acquisitions, according to a release, broaden the seed company’s lettuce development portfolio in Europe and Asia.
“The acquired companies complement each other very well as a result of their distinct strengths and capabilities,” Dan Burdett, president of Syngenta Vegetables-North America, said in the release. “These acquisitions lay the foundation for Syngenta’s growth ambitions in the lettuce seed business.”
Burdett said in the release that lettuce would be a strong addition to Syngenta’s leafy green crop products.
“ … lettuce adds an important component to our value-added customer offering,” he said.
Pybas’ strengths include processing and breeding capabilities in iceberg lettuce and celery, according to the release. Synergene has a diverse assortment of romaine lettuce.
Syngenta plans to maintain each company’s lettuce seed production facilities in Santa Maria and Salinas, according to the release.
The acquired companies will form a new lettuce business that will operate under Syngenta’s vegetables organization. Rick Mitchell, who’s currently part of that vegetables organization, will lead the new business.
Syngenta did not disclose financial details of the transaction, but said the acquisitions are expected to be completed by the end of the year.