São Paulo, Brasil
September 18, 2023
>> GDM firma acordo para adquirir a empresa Biotrigo Genética
>> GDM firma un acuerdo para adquirir Biotrigo Genética
The transaction, which is subject to the approval of the Brazilian and Argentinean regulatory bodies, will allow for greater economic incentives and will boost the development of the Brazilian triticulture chain
GDM announced today the signing of an agreement to acquire the entirety of Biotrigo Genética, a leading wheat breeding company in South America. The transaction, which is subject to approval by the Administrative Council for Economic Defense (CADE) in Brazil and the National Commission for the Defense of Competition in Argentina, represents an opportunity for innovation for farmers and multipliers, as well as development opportunities for employees of both companies.
"Biotrigo and GDM have much in common, which guarantees the continuity and complementarity of their operations," says Ignacio Bartolomé, CEO of GDM. "Both have valuable origins and legacies as family businesses. They also coincide in their values and approach to plant breeding. We are confident that this integration will be natural and very fruitful," says Bartolomé.
The addition of Biotrigo to GDM expands the portfolio and solutions for growers. This move will also allow GDM to expand its presence in other important wheat producing markets, such as the United States, Canada and Europe. Through this acquisition, the group foresees a higher level of investment in research and development programs in plant genetics using new technological tools, such as genomics, data analysis or gene editing, focusing on wheat and resulting in more and better products for farmers and the wheat chain.
This investment responds not only to GDM's diversification strategy in the Brazilian market, but will reinforce the group's objective of adding value to the wheat crop through the expertise of both companies in plant breeding and crop commercialization. The merger will respect and give continuity to both the business and the varieties developed by Biotrigo, recognized for their agronomic characteristics, productivity, health and quality.
GDM has been present in Brazil for 20 years with a very clear strategy, which consists of working in a solid and close relationship with multipliers, responsible for playing a fundamental role in the agribusiness chain. This partnership is based on the application of advanced technology to genetic improvement, efficient logistics and proximity to producers.
"The integration of Biotrigo and GDM will further boost our ability to produce cultivars with high production potential and to meet the specifications of grain processing industries. This factor is generated by the combined knowledge, experience and development capacity of both companies, in line with global food challenges and sustainability goals," emphasizes André Cunha Rosa, director of Biotrigo.
Ottoni Rosa Filho, also director of Biotrigo, comments that the two companies were identified by their agility in implementing improvements and their ability to accelerate the process of crop development focused on increasing the success rate of producers. "At both companies, we work with high quality standards in our breeding programs. And, just as importantly, we share similar cultures, which strengthens the Biotrigo team and provides opportunities for professional development in the future. I am convinced that the synergy between GDM and Biotrigo will be very positive," he stresses.
André Cunha Rosa and Ottoni Rosa Filho are founding partners of Biotrigo and will remain actively involved in the business as members of the company's Advisory Board.
This acquisition is subject to the approval of the Administrative Council for Economic Defense (CADE) in Brazil and the National Commission for the Defense of Competition in Argentina, both antitrust agencies.
Trust & Co Investimentos acted as financial advisor to Biotrigo in this transaction.
About Biotrigo
Biotrigo Genetics is a Brazilian wheat breeding company focused on crop development for Brazil and countries in the American continent. Founded in 2008 by brothers and directors André Cunha Rosa and Ottoni Rosa Filho, Biotrigo has its headquarters in Passo Fundo (RS) and a branch in Campo Mourão (PR). The company also has four breeding programs, located in Rio Grande do Sul, Paraná, Cerrado and Argentina. During its 15-year history, by 2023, more than 70 crops with Biotrigo genetics have been released to the wheat market in Brazil and five other countries, making Biotrigo the leading wheat genetics company in South America. This year, the company was recognized as a great place to work by the Great Place To Work (GPTW) certification. Biotrigo currently has more than 140 employees.
About GDM
GDM is a global group that researches, develops and commercializes proprietary products in plant genetics for field crops.
The company is at the forefront in bringing together technologies and talents, fostering innovation, partnership and the development of new businesses that impact the core and the agro-industrial value chain.
The company is present in 15 countries, with a total of 1,500 employees and a turnover of US$ 850 million.
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