Bayer CropScience announced the completion of its purchase of AgraQuest, Inc., a global supplier of innovative biological pest management solutions. In July 2012, it announced its plans to acquire AgraQuest for a purchase price of US$ 425 Million (about EUR 340 million) plus milestone payments.
Biological pest management solutions, often also referred to as Green Products, will play a significant role in propelling farming`s future. Bayer CropScience plans to further invest in the R&D site in Davis, which is intended to become a world class center of expertise and excellence in Green Products, and to expand existing manufacturing operations of Green Products at Tlaxcala, Mexico. The company plans to achieve EUR 3 billion in its fruits and vegetables business by 2020.