Pioneer Hi-Bred acquires Dois Marcos, soybean seed breeding business in Brazil
April 01, 1999
by Teresa Acklin
DES MOINES, IOWA, U.S. — Pioneer Hi-Bred International, Inc. has acquired Dois Marcos, a soybean seed breeding and marketing company, based in Cristalina, Brazil. Purchase price and other terms of the acquisition were not disclosed.
Dois Marcos has been marketing commercial soybean varieties for two years in the Cerrado area of Brazil. Described by Pioneer Hi-Bred as a "small regional company," Dois Marcos established a soybean-breeding program in 1987 in the Brazilian state of Goias. Cristalina is less than 50 miles south of Brasilia in an area Pioneer said was well suited for soybean breeding.
"We will utilize the germplasm developed in Brazil by Dois Marcos to enhance our soybean lines worldwide," said Richard L. McConnell, Pioneer senior vice-president for research and product development.
"We continue to improve the disease and pest resistance of our soybean varieties. This germplasm, along with our other genetic enhancement technologies, improves our ability to do that."
The announcement came on the heels of news that DuPont had agreed to acquire the remaining outstanding shares of Pioneer Hi-Bred for U.S.$7.7 billion.