French seed company Vilmorin Seed has gained control of Israel’s largest and oldest seed company Hazera Genetics.
Vilmorin Company (VCO) now has 90 per cent shares of Hazera Genetics, a company valued at US$ 91 million (£48.6m).
Rami Dar, Hazera Genetics general manager, said the investment in by Vilmorin, “provides Hazera with many new marketing opportunities and access to new technologies , and will assure the growth and development of the company.”
During the ceremony marking the purchase of Hazera by Vilmorin, with the participation of Israel's minister of agriculture Shalom Simhon, a special honor was bestowed upon Prof Nahum Kedar, of the Faculty of Agriculture in Rehovot, for developing and breeding the world-renowned Daniela tomato variety.
Hazera has exclusive rights to grow and market Daniela seeds, which are now responsible for a major portion of tomato cultivation in the Mediterranean Basin and Central America.
Vilmorin VCO is a top-ranking producer of vegetable seeds with annual sales returns of € €500 million (£339m) and is traded on the French Stock Exchange at a value of nearly €600m (£406m).
