Seminis, Inc.
Company typeSubsidiary
Founded1994
Headquarters
St. Louis, Missouri
,
U.S.
RevenueUS$ 606 million (2007)[1]
Number of employees
3,000 (2007, approximate)[1]
ParentBayer AG
Websitewww.vegetables.bayer.com/us/en-us/products/seminis.html

Seminis is a developer, grower, and marketer of fruit and vegetable seeds, currently a subsidiary of Bayer. Seminis' hybrids claim to improve nutrition, boost crop yields, limit spoilage and reduce the need for chemicals. Their retail line includes over 3,500 seed varieties.

History

Seminis was established in 1994 by Alfonso Romo under his Savia Group, a part of the Empresas La Moderna S.A. conglomerate, to consolidate leading companies in the fragmented fruit and vegetable seed industry.[2] The goal was realized by takeovers of several companies, including Asgrow, Petoseed, Royal Sluis, Bruinsma Seeds, and Genecorp.[3][4]

In 1996, Romo sold the field crop business of Seminis to Monsanto for $240 million.[5]

In 1999, Savia took Seminis public, in which Savia retained control of the company.[6]

In September 2003, Savia took Seminis off the public markets for approximately $650 million via an investment of approximately $222 million from Fox Paine & Company and additional cash and stock from Savia and related entities.[7][8][9]

On March 23, 2005, the Monsanto Company announced that it had completed its acquisition of Seminis. Monsanto paid $1 billion in cash and $400 million assumed debt, plus a performance-based payment of up to $125 million payable by 2007.[10]

In 2018, Bayer acquired Monsanto and all of its seed brands, including Seminis.[11]

References

  1. ^ a b "Seminis ~ About Seminis". Seminis. Archived from the original on March 25, 2009. Retrieved November 16, 2023.
  2. ^ "Lord of the seeds". The Economist. January 27, 2005. Archived from the original on September 27, 2018.
  3. ^ Baker, David R. (December 17, 1995). "Seeding Global Market : Merger of Saticoy Firm Will Grow Distribution". Los Angeles Times. Saticoy. Archived from the original on September 22, 2022. Retrieved September 22, 2022.
  4. ^ "Seminis ~ About Seminis ~ History". Seminis. Archived from the original on March 1, 2012.
  5. ^ "Mexican Firm Following Growth Strategy". Los Angeles Times. Monterrey. Reuters. October 11, 1996. Archived from the original on March 15, 2023.
  6. ^ Vrana, Debora (May 31, 1999). "Agricultural Seed Firm Seminis Is Seeking to Reap Capital With IPO". Los Angeles Times. Archived from the original on September 6, 2020.
  7. ^ "Savia and Fox Paine complete previously announced acquisition of Seminis for $3.78 per share" (Press release). Oxnard, California and San Francisco, California: SeedQuest. September 29, 2003. Archived from the original on December 8, 2003.
  8. ^ Nagel, John (2003). "Fox Paine, Romo buys into Seminis" (PDF). The Deal. Mexico City. Archived (PDF) from the original on March 4, 2016.
  9. ^ Fulmer, Melinda (December 14, 2002). "Seminis to Be Acquired in $650-Million Deal". Los Angeles Times. Archived from the original on March 5, 2016.
  10. ^ "Monsanto completes Seminis deal". Globe Gazette. St. Louis. Associated Press. March 24, 2005. Archived from the original on November 16, 2023. Retrieved November 16, 2023.
  11. ^ "History | Seminis". Seminis. Archived from the original on August 2, 2021.

External links


Monsanto
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