Wilmington-based Corteva Agriscience , Agriculture Division of DowDuPont has acquired the ClearfieldCanola Production System in Canada and the United States from BASF.
Clearfield canola is a non-genetically modified herbicide tolerance system, consisting of an herbicide tolerance trait and Imidazolinone herbicides sold in Canada primarily under the brand, Ares.
“This bolt-on acquisition strengthens Corteva Agriscience’s already established position in Clearfield canola seeds and traits and positions us well to deliver a holistic trait and herbicide solution to growers – a strong proof point of our ongoing commitment to expanding grower choice and delivering a complete solution for farmers,” said Rajan Gajaria, executive vice president Business Platforms for Corteva Agriscience. “This transaction supports Corteva Agriscience in supplying genetics for one of the most consumed vegetable oils globally, together with the heart-healthy Omega-9 oil segment, which reflects our continued focus on addressing consumer and farmer needs through differentiated offerings.”
The acquisition enables Corteva Agriscience, which previously licensed the Clearfield canola trait in both the Pioneer and Brevant seeds (previously Nexera brands, to expand its position to include out-licensing of the Clearfield canola trait to other seed companies in Canada and the United States.
In addition, acquiring herbicides under the brand name Aresand the imazamox herbicides under the Tensile brand in Canada, provides Corteva Agriscience with the full canola system it can offer to its customers and potential licensee partners.
The financial terms of the agreement were not disclosed.
Corteva, the combination of Dow and DuPont agribusiness companies, will be spun off into a public company later this year.