DuPont Pioneer, a unit of US-based chemical firm DuPont, has acquired 80% stake in Pannar, a South African seed firm.
Pannar Seed, which has operations throughout Africa and across the world, offers seeds of maize, sunflower, soybeans, grain sorghum, forage sorghum, forage crops, dry beans, wheat, and pasture seeds.
This acquisition will enable both the companies to access additional crop areas, reach more customers and deliver improved seed products to farmers. In addition, Pannar now has access to the Pioneer genetics library and its maize breeding and biotechnology capabilities.
DuPont Pioneer noted that the collaboration with Pannar is expected to boost the research and innovation in the African seed industry, bringing farmers in South Africa and throughout the continent more product choices and better products, faster and more efficiently than either company could do on its own.
Commenting on the deal, DuPont Pioneer president Paul E. Schickler said that the acquisition will demonstrate growth opportunities for both businesses, for employees, and for the productivity of small-scale and commercial farmers in Africa.
Pannar chairperson Brian Corbishley said, "This is good news for Pannar customers, for our employees and for Africa.
"This partnership will ensure long-term growth as we deliver improved products to farmers in South Africa and across the continent."
DuPont Pioneer develops and supplies advanced plant genetics, by providing quality seeds to farmers in around 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems.
