Swiss agrochemicals company Syngenta has bought Società Produttori Sementi (PSB), an Italy-based seed firm engaged in durum wheat breeding and production for pasta.
The financial terms of the transaction have not been disclosed.
Established in 1911, PSB grows durum wheat varieties on over 330,000 hectares, and has breeding programs in other crops such as common wheat and alfalfa.
Following the deal, Syngenta will retain PSB brand and its expertise for Italian durum wheat production, allowing growers in Italy and other countries to cater to the increasing demand for pasta.
Syngenta COO John Atkin said that PSB combines the quality, tradition and innovation which are the hallmarks of the 'Made in Italy' brand.
Atkin added, "Its unrivalled durum wheat breeding expertise and its links to the food industry will be complemented by Syngenta's leading-edge cereals R&D and global presence.
"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."
The parties also support sustainable agriculture through PSB's 'From Seed to Pasta' initiative, which complements Syngenta's The Good Growth Plan.
