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Bayer CropScience has agreed to purchase the Davis, Calif.-based biopesticide maker AgraQuest for $425 million plus milestone payments. AgraQuest produces pesticides based on natural microorganisms. The company had sales last year of less than $100 million, but it says it has been growing at an average annual rate of more than 30%. Bayer says the purchase will make it the first crop protection company to offer a full range of seeds, traits, chemical pesticides, and biopesticides for the fruits and vegetables market.
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