http://www.seedalliance.org/index.php?page=SeminisMonsanto"And We Have the Seeds"
Monsanto Purchases World’s Largest Vegetable Seed Company
“Monsanto Company to Acquire Seminis, Inc., a Leading Vegetable and Fruit Seed Company
Acquisition Expected to Add Near-term Income Growth and Diversity to Monsanto's Seed Portfolio
ST. LOUIS (Jan. 24, 2005) - Monsanto Company (NYSE: MON) announced today that it signed a definitive agreement to acquire Seminis, Inc., for $1.4 billion in cash and assumed debt… “
(From Monsanto Press Release)
Monsanto Goes Healthy?
The news of Monsanto’s agreement to purchase Seminis has received little attention from the media other than the financial pages and a few seed industry and anti-globalization web sites. But then again, why should it? How many consumers – of food or seed – have even heard of Seminis? And yet, as Seminis spinmeister Gary Koppenjan said, “If you've had a salad, you've had a Seminis product."
It is estimated that Seminis controls 40 percent of the U.S. vegetable seed market and 20 percent of the world market—supplying the genetics for 55 percent of the lettuce on U.S. supermarket shelves, 75 percent of the tomatoes, and 85 percent of the peppers, with strong holdings in beans, cucumbers, squash, melons, broccoli, cabbage, spinach and peas. The company’s biggest revenue source comes from tomato and peppers seeds, followed by cucumbers and beans.
In large part, these numbers reflect usage of Seminis varieties within large industrial production geared towards supermarkets, but Seminis seeds are also widely used by regional conventional and organic farmers as well as market and home gardeners. Johnny’s, Territorial, Fedco, Nichol’s, Rupp, Osborne, Snow, and Stokes are among the dozens of commercial and garden seed catalogs that carry the more than 3,500 varieties that comprise Seminis’ offerings. This includes dozens of All-American Selections and an increasing number of varieties licensed to third parties for certified organic seed production....
...One can only speculate on Monsanto’s motives for purchasing Seminis. We can make educated projections, just as Wall Street financiers have done on news of the acquisition. Financial and agricultural professionals interviewed in the mainstream press, such as Don Basse of the commodity advisory group Agresources, have surmised that the acquisition can be profitable for Monsanto only with the application of biotechnology – as Seminis conventional seed business was nearly half a million dollars in debt and continuing to lose money. ...