PhytoGen Seed is a company established to mainly focus on the cottonseed industry in the US
Pure-play agriculture company Corteva has agreed to purchase a complete stake in PhytoGen Seed Company from J.G. Boswell for an undisclosed sum.
PhytoGen Seed, a joint venture (JV) between Corteva and J.G. Boswell, is an entity established with a primary focus on the US cottonseed industry.
Corteva, which owns a 53.5% stake prior to the agreement in the JV, has managed PhytoGen in the US market via its wholly-owned subsidiary Mycogen.
Corteva Agriscience seed business platform president Steve Reno said: “With this action, we intend to build on the strong foundation we established with J.G. Boswell Company over the last two decades – continuing to serve cotton customers with our growing global portfolio of leading cottonseed products.”
PhytoGen Breeding Traits are said to protect yield and fibre quality, as well as all season long and with in-plant protection against challenging cotton diseases and nematode pests.
The deal enables Corteva to become the sole owner of PhytoGen’s intellectual property
PhytoGen brand varieties with the Enlist cotton trait offer more options for better productivity against tough to control and resistant weeds.
PhytoGen brand varieties with WideStrike and WideStrike 3 insect protection enables cotton farmers to protect their crops from potential yield-robbing pests.
The deal allows Corteva to become the single owner of PhytoGen’s intellectual property, including patents, trademarks, germplasm and information.
Corteva Agriscience CEO James Collins, Jr said: “This acquisition provides a solid proof point of our consistent commitment to driving long-term growth through targeted investments in solid margin opportunities that at the same time strengthen our ability to serve our customers.”
In March, Corteva Agriscience collaborated with Evogene’s subsidiary AgPlenus to develop novel herbicides.