Bayer CropScience (Monheim, Germany) signed an agreement in July to purchase AgraQuest Inc. (Davis, Calif.) for $425 million plus milestone payments. AgraQuest is a global supplier of biological pest management solutions based on natural microorganisms. Bayer CropScience said the acquisition would enable it to build a leading technology platform for green products and to strengthen its fruits and vegetables business. “The growing fruits and vegetables market, which today accounts for more than 25 percent of our sales, is of strategic importance for us. We plan to achieve €3 billion sales in this segment by 2020, and with the acquisition of AgraQuest we are underlining our growth ambitions,” said Sandra Peterson, CEO of Bayer CropScience.
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