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Syngenta divests US flowers distribution and brokerage

Wed, 14 Nov 2012 03:08:23 EST

Basel, Switzerland

• Sale of Syngenta Horticultural Services to Griffin Greenhouse Supplies
• Long-term agreement to distribute and broker Syngenta genetics
• Syngenta focus on innovative flowers solutions strengthened


Syngenta announced today that Griffin Greenhouse Supplies Inc., a leading United States-based supplier of greenhouse and nursery materials, has signed an agreement to acquire the Syngenta Horticultural Services (SHS) distribution and brokerage business.

The transaction will include the transfer of SHS assets and employees as well as distribution and brokerage capabilities located in the USA. SHS had sales of $96 million in 2011. Griffin has also signed a long-term agreement to distribute and broker Syngenta Flowers genetics throughout the USA.

Robert Berendes, Head of Business Development, said: 'This transaction allows Syngenta to strengthen focus on our core genetics and plant protection capabilities. We look forward to working closely with Griffin to deliver the breakthrough solutions professional growers and retailers need to meet the increasingly high standards of consumers.'

Financial terms of the transaction have not been disclosed.

Syngenta is one of the world's leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
Cautionary Statement Regarding Forward-Looking Statements

This document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor.


Source: WebWire



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