The Maïsadour and Terrena cooperatives plan to merge their seed activities to create a European leader in the sector.
The Boards of Directors of the Maïsadour Cooperative Group and Terrena announce their intention to create a joint entity, a key player in R&D & Seeds Business and a European leader in seed production.
After consultation with the authorities and relevant bodies, this entity would combine all the seed activities of the Maïsadour Cooperative Group and Terrena, the territories and species of which complement each other perfectly.
The new entity, representing a turnover of €260 million and employing 1,100 people, would develop two activities:
- Variety creation and development of its seed, plant health product and service brands for farmers and distributors – a source of value for cereal farmers and breeders.
- Multiplication of multi-species (maize, sunflowers, rapeseed, cereals, alfalfa, forage and vegetable crops) and multi-territory (France, Spain, Eastern Europe) seeds for third parties;
This merger would be the logical outcome of a long-term partnership bringing together the complementarity of Jouffray-Drillaud’s product ranges (subsidiary of Terrena) and the international sales network of Maïsadour Semences (subsidiary of the Maïsadour Cooperative Group) in the marketing of seeds and services used for breeding.
The two cooperative groups have high ambitions for this new entity which is responsible for extending its commercial offer and increasing its attractiveness to customers. The objective is to increase its competitiveness and critical mass, in a sector where R&D and technologies relating to genetics and agronomy have a strategic dimension.
As Michel Prugue and Hubert Garaud, Presidents of Maïsadour and Terrena respectively, said: “The demographic, climatic and economic challenges that farmers will have to overcome on various continents are a great catalyst of energy. Our planned alliance on the strategically important seed sector reflects both cooperatives’ desire to provide their respective members and customers with products and services in line with market expectations: quality sectors, sustainable agriculture. Our project demonstrates once again that cooperative groups know how to structure themselves to invest and innovate. The word “cooperation” is more relevant now than ever before”.
Maïsadour Cooperative Group and Terrena set the objective of finalising the project before summer 2016.