Landec/Monsanto announce two deals
Landec Corp. said Monday it entered into two new agreements with Monsanto Co. potentially valued at more than $70 million.
Landec sold its direct marketing and sales seed business, Fielder’s Choice Direct, to American Seeds Inc., a wholly owned subsidiary of Monsanto, for $50 million in cash with a potential additional earn-out amount of up to $5 million.
In the second agreement, Landec entered into a five-year co-exclusive technology license and polymer supply agreement with Monsanto for the use of Landec’s polymer seed coating technology.
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