Bayer CropScience Acquires Soybean Germplasm
Bayer's acquisition of ProSoy Genetics broadens the range of soybean germplasm available to Bayer's existing breeding efforts and provides a vehicle for delivering LibertyLink into the Midwest marketplace.
March 14, 2012
Bayer CropScience has acquired the germplasm assets of ProSoy Genetics, the soybean breeding division of privately-held Thompson Agronomics based in Leland, IA. Financial details were not disclosed. The acquisition reflects Bayer CropScience’s strategic commitment to developing superior germplasm.
Since its founding in 1975, ProSoy and Thompson have built a reputation for breeding excellence as one of the Midwest’s last remaining independent seed breeding programs. ProSoy is well-known for its high-yielding, highly diverse germplasm that is well adapted to the broad, Midwest growing region. The company focuses on germplasm in maturities one through three, appropriate for much of the U.S. and Canadian soybean acreage.
The acquisition broadens the maturity range of soybean germplasm available to Bayer’s existing breeding efforts, and also provides a vehicle for delivering Bayer’s LibertyLink and other desirable traits into the Midwest marketplace. The company has a robust research and development pipeline including herbicide-tolerance and insect- and nematode-resistance programs specific to soybeans.
“Bayer CropScience is pleased about the opportunity to bring the excellent germplasm assets of ProSoy into our expanding soybean breeding program,” said Dr. Mathias Kremer, Head of the business unit BioScience of Bayer CropScience. “This move strengthens our position as a provider of both soybean germplasm and traits, and helps us in our quest to deliver tailored, high-performance solutions to farmers across the soybean growing regions of the United States that help them address the critical productivity challenges facing them today and into the future.”
”Our focus has always been on the research and development of strong soybean genetics,” said Tom Thompson, President of Prosoy Genetics. “We are excited for the opportunity to integrate our high yielding genetics with Bayer’s superb biotechnology innovations.”
Soybean is a strategically important crop for Bayer CropScience. The company is committed to delivering integrated solutions targeting higher yield through germplasm, traits and crop protection solutions. In recent years, the company has made significant investments to expand its soy business, including the acquisition of Hornbeck Seeds.