Abbott & Cobb's watermelon business holds a leading market position in the US, with increasing business operations in Mexico, Australia and Asia.
According to Bayer CropScience, the deal will strengthen its vegetable business, which operates under the Nunhems brand. The company also noted that melon business and the germplasm will broaden its existing seed portfolio further and will be the basis for future new hybrids.
The acquisition is expected to be completed within a few weeks. Financial details were not disclosed. Around 30 employees of Abbott & Cobb are expected to join the vegetable seed business of Bayer CropScience.
Abbott & Cobb will continue with its remaining business with crops such as sweet corn, pepper and squash.
Bayer CropScience CEO Sandra Peterson said the demand for healthy fruits and vegetables is increasing worldwide, and this segment is of crucial importance for Bayer CropScience.
"We plan to achieve sales of about EUR 3 billion with seeds, traits and crop protection solutions for fruits and vegetables by 2020. Our vegetable seed business is essential for this," Peterson added.
Bayer CropScience, a subgroup of Bayer, is a crop science firm involved in the areas of crop protection, non-agricultural pest control, seeds and traits.
