Paris, France
November 5, 2018
Vilmorin & Cie acquires the companies SURSEM and GENEZE (South America) and crosses a new threshold in the internationalization of its field seeds business
Vilmorin & Cie announces the acquisition of two independent South American companies, Sursem and Geneze, from the investment fund Pampa Agribusiness*.
The two companies breed, produce and distribute mainly hybrid corn seeds, but also wheat, sunflower and soybean seeds. Sursem is active in Argentina and Geneze in Brazil.
With four research centers and two production sites, the two companies also have an extensive commercial network. They made total sales of more than 40 million dollars in 2017 and employ more than 160 people.
With this acquisition, Vilmorin & Cie, which has been running a research activity in Argentina since 2010 (corn, wheat and sunflower), has achieved a significant and highly relevant extension of its organization in terms of research, production, and commercial network, gaining immediate access to commercial positions in corn, wheat and sunflower. Argentina, the 4th largest world market for field seeds, has a top rate market with temperate corn germplasm that fits well with the genetic resources of Europe, North America and south of Africa. Furthermore, through this operation, Vilmorin & Cie will consolidate its market shares in Brazil.
This acquisition, which fits in perfectly with Vilmorin & Cie's strategy, means a new major threshold has been crossed in the internationalization of its Field Seeds business, with significant reinforcement of its organization and its commercial positions in South America in major crops.
We recall that, in its fiscal year 2017-2018, Vilmorin & Cie made sales of around 55 million euros on the South American market for field seeds, mainly in Brazil.
This acquisition is made through the acquisition of Mars Holding B.V., a Dutch holding entity which owns Sursem and Geneze.
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