Bayer acquires Germany-based biocontrol company
Bayer CropScience has signed an agreement to acquire Prophyta GmbH, a leading supplier of microbial crop protection products headquartered in Malchow on the island of Poel in Mecklenburg-Vorpommern, Germany, along with the company´s R&D laboratories and its state-of-the-art production and formulation facilities in Wismar, Germany. The acquisition further complements Bayer CropScience´s portfolio and will help the company build a leading offer of integrated crop solutions based on high-value seeds, innovative crop protection solutions and customized services. Closing is expected within a few weeks. Financial details were not disclosed.
"This acquisition not only further strengthens our successful fruits and vegetables business," said Dr. Rüdiger Scheitza, Member of the Board of Management of Bayer CropScience AG and Head of Strategy & Business Management. "Prophyta´s patented solid-state fermentation technology and strong expertise in the formulation of live fungal spores will also help us bringing new, innovative solutions to market." Prophyta will expand Bayer CropScience´s existing biological pest control portfolio and allow the company to further leverage its technology platform acquired through Athenix Corporation and AgraQuest.
"We are proud to become part of Bayer CropScience," commented Prophyta Managing Director Dr. Peter Lüth. "Our comprehensive production and formulation capacities will help Bayer CropScience to supply its worldwide customers with large quantities of biologics based on natural fungal micro-organisms." This acquisition also opens up many opportunities for innovation in the area of Research & Development as well as growth within the Bayer CropScience Marketing & Sales network.
Prophyta, founded in 1992, offers customers well-established products primarily based on biological control agents which are registered in more than 30 countries worldwide. Key brands are Contans for control of Sclerotinia and the nematicide BioAct. Furthermore, Prophyta has developed a unique solid-state fermentation technology for production and bioprocess development of filamentous fungi. Using this patented technology, large quantities of fungal biomass as well as fungal spores can be produced under axenic conditions. Prophyta employs a total staff of approximately 30 full-time employees.
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