Mitsui : invests in Totam, a Netherlands-based tomato seed company
November 26, 2020 at 07:41 am IST
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Mitsui & Co., Ltd. ('Mitsui', Head Office: Tokyo, President and Chief Executive Officer: Tatsuo Yasunaga) has reached an agreement to take a 75% stake in Totam Seeds B.V. ('Totam'), and signed a share purchase agreement on November 25, 2020. Totam is an innovative seed company based in the Netherlands, active in research, breeding, and the sales & marketing of hybrid tomato seeds for the fast-growing active greenhouse*1 segment. Tomatoes represent the largest crop segment in the vegetable seed market, and Totam has a proven track record in developing high-quality tomato seeds.
Active greenhouses with climate control enables year-round production and stable supply against the backdrop of the changing climate while minimizing labor which is an issue for the global agriculture industy.
Mitsui will partner with Prominent U.A. ('Prominent'), the largest tomato growers' association in the Netherlands, a leading country in the area of active greenhouse production technology. This partnership will enable Totam to leverage Prominent's vast experience in the production of tomatoes under active greenhouse conditions and insight into latest consumer trends, and strong research and development capabilities of Mitsui's seed ecosystem such as Top Seeds International Limited to develop new and innovative varieties.
Mitsui plans to supply active greehouse farmers around the world with tomato seeds developed by Totam, alongside comprehensive solutions based on Prominent's know-how (e.g. irrigation, sytems, sensors, etc.).
Mitsui is placing a focus on responding to increased demand for food due to growth of the world's population, as well as ensuring a stable supply of food in response to climate change, and addressing increasing demand for vegetables to improve people's health and living standards. The vegetable seed business, which is a potential solution to these challenges, has been positioned as a key strategic area, and through this investment, we will contribute to the improvement of peoples diets around the globe.
Outline of Totam
Official name
Totam Seeds B.V.
Year established
2010
Head office location
De Lier, the Netherlands
Shareholder composition after investment
Mitsui & Co. 75%, Prominent TS B.V. 25%*2
Business outline
Tomato seed development, production and sales
*1: Active greenhouses are greenhouses which systematically control its environment such as light, humidity, temperature, and carbon dioxide content. It is a high growing segment recently growing at approximately 8% per year.
*2: Prominent TS B.V. is a SPC of Prominent U.A.
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Mitsui & Co. Ltd. published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 02:10:01 UTC
Mitsui & Co., Ltd. is a diversified group organized around 7 sectors of activity:
- distribution of chemical products (24.3% of net sales);
- distribution of foods, consumer products and pharmaceuticals (23%). The group is also engaged in real estate asset management;
- production and sale of gas and oil products (22.1%);
- production of minerals and non ferrous metals (16.2%);
- manufacturing of industrial engines equipments (7.3%);
- distribution of iron and steel products (5.2%);
- other (1.9%): primarily sale of IT and communication products, financing and logistics services.