Syngenta to Acquire Conrad Fafard, Inc.

Syngenta announced it has entered into an agreement to acquire Conrad Fafard, Inc. (Fafard), a North American producer of packaged growing media to professional ornamental growers and the consumer retail market.

Fafard is a privately held company with sales of $76 million for the year ended May 31, 2006. The agreed purchase price is $133.5 million. The company, headquartered in Agawam, Mass., has 240 employees with production sites in the Eastern U.S. and Canada.    

"This acquisition advances our strategy to expand in the fast-growing lawn and garden market," says John Atkin, COO of Syngenta Crop Protection. "Fafard has a leading position with ornamental growers in North America and a consistent record of growth. Its strong brand will give Syngenta the opportunity to become the first full range supplier to professional growers."    

The closing of the transaction is subject to the approval of Fafard's shareholders and regulatory authorities.    

Syngenta is an agribusiness committed to sustainable agriculture through innovative research and technology. The company ranks third in the high-value commercial seeds market. Sales in 2005 were approximately $8.1 billion. Syngenta employs more than 19,000 people in over 90 countries.