Syngenta Sells Fafard Peat Unit

Posted by |13 June 2012

Syngenta has divested its Fafard peat unit to Sun Gro Horticulture Ltd., of North America.

Under the terms of the agreement, Sun Gro, the leading North American producer of growing media, will acquire all Fafard’s US and Canadian assets, including employees and production plants.

“Our strategy is to deliver innovative solutions that make flowers easy and rewarding to grow for professional horticulturalists and for end consumers,” Robert Berendes, head of business development, said in a statement. “We will collaborate with Sun Gro both commercially and in R&D to include growing media in our integrated offers. Expansion of these offers will be driven by our leading portfolio of genetics and chemical controls.”

Fafard had sales of $88 million in 2011. Financial terms of the transaction were not disclosed. The transaction closed simultaneously with signing of the agreement.