Syngenta, an agricultural business covering the UK and Ireland, has closed an agreement to acquire SPS Argentina SA (SPS), a specialist in the development, production and marketing of soybean, corn and sunflower seeds.

Syngenta, an agricultural business covering the UK and Ireland, has closed an agreement to acquire SPS Argentina SA (SPS), a specialist in the development, production and marketing of soybean, corn and sunflower seeds. The terms of the deal were undisclosed.

Davor Pisk, CEO of Syngenta Seeds, a subsidiary of Syngenta, commented: “This investment expands our customer base in Argentina and accelerates the introduction of our proprietary GM traits in soybean and corn. For Argentine growers, it translates into a broader offer of high quality seeds to support their important contribution to global food supply.”

SPS is based in the province of Buenos Aires, where it also runs an advanced research program. The company has some 50 employees and recorded sales of $15 million (£9.4 million) in the fiscal year to March 2008.

Syngenta already develops, produces and markets seeds under the NK, Rogers and S&G brands in Argentina. Its portfolio also includes sorghum and vegetable seeds.

Syngenta’s sales in 2007 were approximately $9.2 billion. The business employs over 21,000 people in more than 90 countries and is dual-listed on the Swiss stock exchange and in New York.