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FCC Sells Agribiotics Share
TORONTO - May 9/06 - SNS -- FCC Ventures, a division of Farm Credit Canada, has sold its shares of Agribiotics Holdings Inc. to Nitragin Holdings Inc., the Canadian affiliate of Merck KGaA.
Agribiotics is a privately owned company based in Cambridge, Ontario that develops, manufactures and markets inoculant products and crop enhancing technologies in Canada and the United States.
FCCV was the only major private equity investor in Agribiotics, after having originally invested CDN $2.5 million in 2003. Through Nitragin, Merck KGaA purchased Agribiotics for approximately US$25 million. Nitragin is the crop bioscience arm of Merck KGaA’s Performance and Life Science Chemicals Division.
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