Bayer CropScience aquires biocontrol company Prophyta
The acquisition further complements Bayer CropScience's portfolio of integrated crop solutions based on high-value seeds, innovative crop protection solutions and customized services.
Closing is expected within a few weeks. Financial details were not disclosed.
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials.
Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 7.255 billion (2011) and is one of the leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control.
"This acquisition not only further strengthens our successful fruits and vegetables business," said Dr. Rüdiger Scheitza, Member of the Board of Management of Bayer CropScience AG and Head of Strategy & Business Management.
"Prophyta's patented solid-state fermentation technology and strong expertise in the formulation of live fungal spores will also help us bringing new, innovative solutions to market."
Prophyta will expand Bayer CropScience's existing biological pest control portfolio and allow the company to further leverage its technology platform acquired through Athenix Corporation and AgraQuest.
"We are proud to become part of Bayer CropScience,” commented Prophyta Managing Director Dr. Peter Lüth.
"Our comprehensive production and formulation capacities will help Bayer CropScience to supply its worldwide customers with large quantities of biologics based on natural fungal micro-organisms."
This acquisition also opens up many opportunities for innovation in the area of Research & Development as well as growth within the Bayer CropScience Marketing & Sales network.
Prophyta, founded in 1992, offers customers well-established products primarily based on biological control agents which are registered in more than 30 countries worldwide. Key brands are Contans for control of Sclerotinia and the nematicide BioAct.
Furthermore, Prophyta has developed a unique solid-state fermentation technology for production and bioprocess development of filamentous fungi. Using this patented technology, large quantities of fungal biomass as well as fungal spores can be produced under axenic conditions.
Prophyta employs a total staff of approximately 30 full-time employees.
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