Syngenta
Acquires Major Stake in Golden Harvest Seed (7-2-04)
Syngenta continued to enlarge its share of the U.S. seed market
last week by acquiring a 90 percent stake in Golden Harvest.
Leaders from both companies said National Corn Growers Association
(NCGA) members who use Golden Harvest or Syngenta products are
not likely to notice a change in service, as Golden Harvest will
remain as an independent brand within the Syngenta family.
“Golden Harvest can continue its close relationship with
customers and yet access one of the largest research programs in
the industry,” said Golden Harvest Operating Head Rob Robinson,
referring to Syngenta’s cutting-edge research efforts in
the biotech arena. Golden Harvest’s senior management team
and local representatives will remain intact, according to the
company.
NCGA looks forward to continuing its longstanding ties with both
Syngenta and the Golden Harvest brand management team, according
to NCGA Director of Development Tom Slunecka.
“Corn growers across the country recognize both Syngenta
and Golden Harvest as premier seed providers,” Slunecka said. “We’re
pleased that these two innovative industry leaders are joining
forces and we’re excited to continue our interaction with
both.”
Based in Bloomington,
Ill., Golden Harvest had a 4 percent share of the corn market. After
acquiring Golden Harvest last week and Advanta’s Garst brand
just last month, Syngenta now has 15 percent of the U.S. corn seed
market.
"The NK,
Garst and Golden Harvest brands are established and well-respected
among North American growers,” said John Sorenson, president
of Syngenta Seeds Inc. “Like our acquisition of Garst, our
strategic objective is to enhance the differentiation of the distinct
brands, which allows us to continue serving broad segments of the
market."
“This acquisition marks the completion of our strategy to
develop critical mass in the U.S. corn and soybean seeds market,
complementing our leading position in crop protection,” said
Syngenta CEO Michael Pragnell. “We look forward to welcoming
the highly successful and respected Golden Harvest organization
to Syngenta and are delighted that senior management will remain,
ensuring continuity of service to customers.