New Delhi: Advanta to buy Golden Seeds

New Delhi, June 3: Agrochemical company Advanta India Ltd has said it will buy Golden Seeds Pvt Ltd for Rs 60.10 crore.

The company expects to pay Rs 17.50 crore for inventory and receivables, it said in a statement.

The acquisition will provide Advanta a platform in vegetables seeds and will help it develop a strong position in the Indian and Asian vegetables seed market.

In addition, it will leverage the strong brand equity of Golden seeds, their proprietary germplasm base, excellent breeding programmes and outstanding production capabilities.

Golden seed's operations are based in Bangalore and Delhi and have a major presence in crops like Cabbage, Cauliflower, Tomato and Gourds.

UNI