Corteva Agriscience has acquired its joint venture partner JG Boswell Company’s interest in the PhytoGen Seed Company based in Lubbock, Texas for an undisclosed sum.
PhytoGen was established in 1980 by JG Boswell, a cotton producer from California. In 1998, Corteva predecessor Dow AgroSciences acquired a 53.5% share in the business which it controlled through its wholly owned subsidiary Mycogen Seeds in the US. Mycogen had its own cotton germplasm, plant breeding and seed production programme.
“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,” says Corteva chief executive James C Collins Jr.
“This step further strengthens Corteva’s commitment to the cotton market – and positions the company well to diversify and grow this business globally over time.”