Monsanto is diversifying its core crop portfolio and investing in sugar cane with a definitive agreement to acquire Aly Participacoes Ltda.
Aly operates the sugar cane breeding and technology companies CanaVialis SA and Alellyx SA, based in Brazil, which is a world leader in sugar cane production.
Monsanto offers it breeding expertise with key large-acre crops as part of the $290 million acquisition of Aly from part of the Brazilian conglomerate, Votorantim Participacoes SA.
Carl Casale, for Monsanto, said: "Global demands for raw sugar and biofuels are beginning to rise at a faster pace than the current production levels in sugar cane, a crop that is essential to meeting these demands.
“Our goal with this approach is to increase yields in sugar cane while reducing the amount of resources needed for this crop's cultivation, just as we're doing now for corn, soybeans and cotton.”