Syngenta Buys Italian Durum Wheat Seed Company

Syngenta recently announced that it had acquired Societa Produttori Sementi (PSB).

The Italian-based company is one of the country’s most established seed firms and produces durum wheat often used for pasta making.  

Wheat for PSB’s pasta is grown on more than 330,000 hectors in Italy. The company also grows crops at its headquarters in Argelato, which is home to a 430-hector farm.

Syngenta says that it will retain the PSB brand.

“Together we will accelerate innovation in high-quality durum wheat production, helping more growers prosper in the competitive Italian market as well as supporting international expansion,” John Atkin Syngenta’s Chief Operating Officer said in a release.

The move expands Syngenta’s global presence, as it employs 28,000 workers in over 90 countries worldwide. The acquisition also supports Syngenta’s “The Good Growth Plan.” More information about its pledge can be found here.

Financial details of the deal were not disclosed. The global market value for pasta is estimated at $16 billion.