The milk cooperative Dairy Farmers of America has entered into an agreement to buy most of milk processor Dean Foods’ assets as part of the latter’s bankruptcy proceedings. If approved, the $433 million deal will make DFA both the largest milk supplier and the largest milk processor in the country.
The Department of Justice on Tuesday approved Bayer’s $66 billion acquisition of Monsanto, completing a two-year approval process for the mega-merger that spanned several countries. The combined company will be the largest agrochemical and seed company in the world with about $48 billion in annual sales.
Marfrig Global Foods, a Brazilian meat processor, has acquired National Beef for $969 million. The deal will make Marfrig the second-largest beef processor in the world, after Brazil’s JBS.
The $43 billion purchase of Swiss-based Syngenta by state-owned ChemChina has the approval of U.S. and EU regulators, keeping in motion a wave of consolidation in the seed and ag chemical sector. ChemChina agreed to divest a large part of its European pesticide operations to satisfy the competition concerns of regulators on both sides of the Atlantic.
To satisfy EU regulators, U.S.-based Dow and DuPont offered to sell part of DuPont's crop protection business along with its associated research and development and Dow's business in copolymers and ionomers, said the News Journal. The companies hope to complete their $130 billion merge in the first half of this year.
In response to a Justice Department lawsuit, Deere and Co., the world's largest farm equipment maker, says its purchase of a competitor, Precision Planting, will expand farmers' ability to update their planters and will not reduce competition for planter sales.