Monsanto, Remington Create JV for Sorghum Seed Development
Monsanto and Remington Holding have partnered to form Innovative Seed Solutions – a 60/40 joint venture for the development and marketing of sorghum.
The “ancient grain” trend of recent years has brought consumer attention to the potential of sorghum as a food ingredient and not just an animal feed component. Through the work of this joint venture, the partners are aiming for an increase in investment in the sector while increasing industry access to the crop, while creating greater stability and value in the space.
Under the terms of the agreement, the joint venture will consist of Monsanto’s global sorghum breeding business and its germplasm pool and related intellectual property, while Remington will make a cash contribution and acquire Monsanto’s U.S. sorghum production assets. Monsanto will hold a 40% stake in the venture while Remington will hold the remaining 60%.
Monsanto will market the sorghum products produced through Innovative Seed Solutions, distributing them through the company’s Asgrow, Dekalb, Channel dealers as well as regional seed dealer networks.