BetterSeeds Acquires Business Unit of Israeli Seed Company
14 September 2023 BetterSeeds, an AgTech company that genetically improves agricultural crops by using proprietary gene editing technologies, has announced that it has acquired the commercial seeds unit of one of the veteran private agricultural companies in Israel. The seeds unit specializes in the development, improvement, production and marketing of hybrid seeds of top vegetable crops (tomatoes, peppers, cucumbers). The business unit has many activities around the world: in China, Southeast Asia, Europe, the Middle East and South America.
The business unit will be merged into Better-Soli Seeds Ltd., a wholly owned subsidiary of Betterseeds. It will be led by Amit Einav, who until recently served as the Deputy CEO of Hazera Seeds, the largest and most veteran Israeli seeds company.
The merger is extraordinary and unique, not only in Israel, in that for the first time a commercial activity of vegetable seeds has been merged with an innovative technology company of genome editing.
BetterSeeds will enhance the product portfolio of Better Soli Seeds with essential traits that are missing in the market, such as resistance to the Tobamo virus that challenges tomato cultivation in the world, as well as resilience to stresses caused by heat and drought, and more, so that Better Soli Seeds’ products will be market leaders. The combination of commercial varieties and BetterSeeds’ technology will bring innovative solutions to the challenges faced by growers in light of climate change and will constitute a novel breakthrough in agriculture.
BetterSeeds, a Smart-Agro Fund’s portfolio company, proves that genetic improvement of agricultural crops is key to securing food supply for the growing world population. BetterSeeds engages in the genetic improvement of crops and their adaptation to climate change, by applying the company’s unique traits platform and CRISPR-based genome editing technology. In addition, BetterSeeds is developing a unique technological platform, EDGE (Efficient Delivery of Gene Editing), which will enable for the first time broad use of CRISPR as a generic tool for crop breeding. With the help of EDGE, it will be possible to develop better crops with innovative and essential traits, which are not accessible today in a wide portfolio of crops due to the limitations associated with applying CRISPR technology.
BetterSeeds CEO and Founder Ido Margalit said: “The merger of the two companies’ activities is unique, and as far as we know also the first in the world, of a genome editing technology company acquiring a commercial seeds platform that is generating sales in order to reach the market faster. BetterSeeds will continue to establish and develop its capabilities in genome editing and Better-Soli Seeds will be the commercial arm that will produce and distribute the seeds comprising BetterSeeds’ technological solutions.”
Better-Soli Seeds CEO Amit Einav said: “The bonding between genetics, the proven professional and commercial experience of Better-Soli Seeds and the innovations of BetterSeeds in the field of genome editing has a high business potential for our customers; We will offer the finest, high-yielding and innovative vegetable varieties that will meet the challenges posed by cultivation and the market.”
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