The move indicates a strong commitment by the German agrochemicals giant to the international horticultural IPM sector.
Bayer CropScience CEO Sandra Peterson said:
"The growing fruits and vegetables market, which today accounts for more than 25 percent of our sales, is of strategic importance for us. We plan to achieve €3 billion sales in this segment by 2020 and with the acquisition of AgraQuest we are underlining our growth ambitions."
AgraQuest CEO Marcus Meadows-Smith added:
"By joining forces with Bayer CropScience we will be able to develop revolutionary, tailor-made biological solutions. Now the products developed through AgraQuest employees’ hard work will be made available to farmers in every corner of the world."