Mahyco Acquires Controlling Stake in a Zimbabwe based Company, Quton

Maharashtra Hybrid Seeds Company Limited (Mahyco), one of the leading Agri-biotech company in the country, has acquired a controlling interest of 60 percent in Zimbabwe-based, Quton Seed Company (Pvt) Limited (Quton). Mahyco acquired these shares from Seed Co Limited, Africa’s largest Seed Company, based in Harare and listed on the Zimbabwe Stock exchange. Quton is the largest cotton seed company in Africa and is currently present in Zimbabwe, Malawi and Tanzania. The company focuses on research, development, production, and distribution of cotton seed in these countries. The Government of Zimbabwe is very supportive of this investment and is excited that Mahyco will be working with Cotton farmers in the Country and will focus on providing superior quality of seeds to improve their productivity and livelihoods.

Mahyco is a research focused company investing in enhancing yields by conventional and novel technological processes. This acquisition gives Mahyco a strong platform to deliver improved genetics and other novel technologies to the African Cotton farmers for yield and income enhancement. It will also strengthen Mahyco’s position in the cotton market and bring opportunities to extend its technological expertise and business operations in other African countries.

Mr. Raju Barwale, Managing Director, Mahyco said, “This acquisition enables us to place ourselves strongly in the African region and is another milestone in the 50th year of our service to farmers”. He also added, “Africa has a significant potential for agriculture productivity enhancement and access to modern seed technology will facilitate the same along with benefits to the local farming communities. Mahyco’s vision has focused on bringing the best of science for the benefit of the farmers, particularly the small and marginal farmers.”

Mr. Morgan Nzwere, Group CEO, Seed Co Ltd said, “We are very pleased to be bringing on board a highly experienced and well-resourced technical partner and investor, who will help us take the business forward in terms of new technologies, particularly the introduction of hybrid cotton seed into Africa.”

According to the Minister of Agriculture, Mechanisation and Irrigation Development, Honourable Senator Dr J Made, “The Government of Zimbabwe welcomes Mahyco to Zimbabwe and is keen to see its contribution to the growth of the cotton sector.”