Syngenta Divests U.S. Flowers Distribution and Brokerage

By CnAgri Print

Syngenta announced 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.