Monsanto acquires sugarcane companies

By | January 03, 2009
Monsanto Co. announced its acquisition of Brazil-based Aly Participacoes Ltd., which operates sugarcane agricultural companies CanaVialis SA and Alellyx SA, for $290 million. CanaVialis is a sugarcane breeding company developing and commercializing a sugarcane germplasm that Monsanto said may result in significantly higher sugarcane yields. CanaVialis has contracts with 46 sugarcane mills, whose production areas cover 2.7 million acres. Alellyx is an applied genomics company focused on developing biotech traits primarily for sugarcane. Monsanto expects to bring the new sugarcane varieties to market by 2016 in order to meet food and biofuel needs.