Acquisition of PhytoGen drives foundation for long-term growth
In 2020, Corteva acquired complete ownership of PhytoGen Seed Company, LLC (PhytoGen) with a purchase of J.G. Boswell Company’s (Boswell Company) ownership interest. PhytoGen was launched more than two decades ac=go as a joint venture between Corteva and Boswell Company with a mission to focus on the cottonseed industry in the United States. Prior to the acquisition, Corteva maintained a majority stake in the joint venture through its subsidiary, Mycogen LLC. The move is expected to strengthen Corteva’s position in the cotton market, as Corteva has a high-yielding, elite germplasm portfolio and industry-leading trait technologies to address existing and emerging pest management challenges for cotton growers.
New Activity|Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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