Nordic Sugar sells seed business

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Agreement signed with Syngenta for the sale of Maribo Seed.

In a move to further strengthen focus on its core business in production and sale of sugar, Nordic Sugar has today entered into an agreement for the sale of Maribo Seed to Swiss-based Syngenta, a global leader in plant breeding and protection. The transaction includes the seed production and sales activities of Maribo Seed International as well as the Maribo brand name.

Thomas B. Olsen, Managing Director of Nordic Sugar A/S, comments:

“We are very pleased that Maribo Seed has found a new home with the same dedication to innovative and quality-oriented seed breeding. Maribo Seed has successfully developed its market position over the past years, capitalising in particular on its strong capabilities in sugar beet seed production and distribution. As a key player in the industry Syngenta provides an ideal environment for the further development of these activities. Maribo Seed has long-standing relations with Syngenta. The collaboration dates back to 1992, when the two companies initiated a joint breeding programme.”

“Since joining the Nordzucker Group in 2009, Nordic Sugar has been committed to leveraging the synergies of this cooperation. The sale of the seed activities is a natural element in sharpening the Group’s focus on its core business in its pursuit of a leadership position on the European sugar market.”

The sales price is agreed at DKK 320 million (EUR 43 million) and the agreement is conditional upon authority approval.

For further information:
Thomas B. Olsen, Managing Director, Nordic Sugar A/S, tel. +45 3266 2500
Dorthe Lindgreen, Communications/Manager, Nordic Sugar A/S, tel. +45 3266 2588 /
+45 4011 6695

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