Seminis

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Seminis, Inc.
Subsidiary
Founded 1994
Headquarters St. Louis, Missouri, U.S.
Products more than 3,500 seed varieties
Revenue US$ 569 million (2006)
Number of employees
3,000 (2007)
Parent Monsanto Company
Website www.seminis.com

Seminis is the largest developer, grower and marketer of fruit and vegetable seeds in the world.[citation needed] 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[edit]

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.[1] The process was realized by takeovers of such companies (mainly US origin) as: Asgrow, Petoseed, Royal Sluis, Bruinsma Seeds, and Genecorp.[2]

In 1996, Romo sold the field crop business of Seminis to Monsanto for $240 million.[3]

In 1999, Savia took Seminis public, in which Savia retained control of the company.[4]

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.[5][6][7]

On March 23, 2005, Monsanto Company announced that it had completed its acquisition of Seminis. According to the press release announcing the deal, Monsanto paid $1.4 billion in cash and assumed debt, plus a performance-based payment of up to $125 million payable by 2007.[8]

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