Leverkusen, Germany–based pharmaceutical giant Bayer has completed the biggest acquisition in its history in the second quarter of 2018, when it acquired Monsanto for US$63 billion. Bayer considerably expanded its seed business through the acquisition of Monsanto, particularly for corn and soybeans, the company says.
In addition, its existing herbicides business was significantly enlarged. In terms of regions, the transaction primarily expands Bayer’s business in North America and Latin America.
“The acquisition of Monsanto brings together two strong and highly complementary businesses: Bayer’s innovative chemical and biological crop protection portfolio and Monsanto’s exceptional expertise in the field of seeds and traits,” said Bayer CEO Werner Baumann. (See his video statement above.)
“We are now a leader in the agricultural industry with a clear commitment to innovation and sustainability – for the benefit of our customers and society,” he added. In addition to leveraging its employees’ extensive expertise in agriculture, Bayer now also has the strongest portfolio of seed and crop protection products for a wide range of crops and indications, the best research and development platform and the leading digital farming business.