Monsanto, the brand to vanish from the face of earth; World’s largest agribusiness corporation is in the making
Monsanto, the brand to vanish from the face of earth; World’s largest agribusiness corporation is in the making. The Monsanto brand name will disappear after the completion of its $63bn sale to the German company Bayer.
Bayer, a pharmaceuticals and chemicals giant, will reportedly ditch the infamous brand name Monsanto, which is synonymous with protests and controversies over GM crops. Bayer has made it clear in a statement that it would immediately withdraw the 117-year-old Monsanto brand name and the acquired products will retain their brand names and become part of the Bayer portfolio.
Monsanto has long been targeted by environmental activists for its pioneering role in creating GM crops and the deadly herbicide Agent Orange, used by the US in the Vietnam war. The company, which was founded in St Louis, Missouri, in 1901, has been described as an “example of American corporate evil”. Bayer’s chairman, Werner Baumann, promised the company would engage with campaigners, who have described the takeover as a “marriage made in hell”.
“We aim to deepen our dialogue with society. We will listen to our critics and work together where we find common ground,” Baumann said. “Agriculture is too important to allow ideological differences to bring progress to a standstill. We have to talk to each other. We need to listen to each other. It’s the only way to build bridges,” he added.
Friends of the Earth has run a long campaign to try to prevent the takeover, which it warned would “increase control over farmers and cut out competitors, and allow it to become the dominant ‘Facebook of farming’.” Reports suggest that this merger will create the world’s biggest and most powerful agribusiness corporation.