Syngenta announced its intention to divest its premium Flowers seeds business from its Lawn and Garden operating unit. Divestment would enable the new entity to play a leading role in the consolidation of the home gardening market, which is taking place in response to changes in the distribution and retail channels driven by shifts in consumer preferences.
Syngenta has built a high quality profitable Flowers business based on seeds and vegetative genetics and efficient distribution platforms. Syngenta Flowers is a market leader in mass market plants and has developed innovative solutions for seasoned and hobby gardeners alike. The business has a competitive footprint in both developed and emerging markets.
Syngenta will continue to invest in its industry-leading chemistry for professional products markets such as golf courses and industrial pest management.
No further details of the proposed divestment were provided.