Monsanto subsidiary buys seed companies

Published: Sunday, September 4, 2005 12:00 AM CDT

ST. LOUIS (AP) -- A subsidiary of the agriculture biotechnology leader Monsanto Co. acquired five seed companies for $52 million on Friday, the company said.

Monsanto's American Seeds Inc. bought four companies in the Core Group, an association of family-based seed companies serving farmers in the corn belt. The subsidiary also acquired Specialty Hybrids Inc., which serves the eastern corn belt.

Monsanto said the companies acquired represent about 1 percent of the nation's corn seed market.

Monsanto's American Seeds is a holding company that supports regional seed businesses with capital, genetics and technology investments.

Suburban St. Louis-based Monsanto said the Core Group companies will continue their organizational association and be combined into an independent operating company within American Seeds.

Specialty Hybrids will also keep its current structure.


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