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Monsanto will acquire Brazilian sugarcane processor for $290 million

November 03, 2008
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According to the Associated Press, Monsanto Co. will acquire Aly Participacoes Ltda., which owns Brazilian sugarcane breeding and technology companies, for $290 million. Aly Participacoes owns CanaVialis SA and Alellyx SA, which are based in Brazil. The acquisitions will help Monsanto keep up with rising global demand for raw sugar and biofuels. The acquisitions are a long-term investment for the company in terms of research and development, so Monsanto does not expect the deal to help earnings until the middle of the next decade. In addition, the company expects a purchase-accounting adjustment for in-process research and development.

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