Bayer CropScience signed the M&A agreement to purchase AgraQuest for $425 million, plus milestone payments.
The acquisition will enable Bayer CropScience to “build a leading technology platform for green products and to strengthen its strategically important fruits and vegetables business, while also opening new opportunities in other crops and markets,” according to a news release.
Bayer CropScience said it will integrate both AgraQuest’s state-of-the-art biopesticides production facility in Tlaxcala, Mexico, and the company’s research and development site in Davis.
The acquisition is first subject to approval by the relevant authorities, including the Federal Trade Commission.
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