Wilmington, Del., May 12, 2020 — Today, Corteva Inc. (NYSE: CTVA) announced its new go-to-market structure for seeds in the U.S. retail market. These changes are part of Corteva Agriscience’s Multi-Channel, Multi-Brand strategy for the U.S., which serves customers based on their buying preferences through a segmented route-to-market approach. They will strengthen and focus Corteva’s offering for customers who buy seed through retail locations, beginning with the 2021 sales season.
Corteva is introducing Brevant™ seeds in the U.S. for sale exclusively through retail, focused in the Midwest and Eastern Corn Belt. Brevant seeds was successfully launched in 2018 in nine countries outside the U.S. following the merger between Dow and DuPont. This bold, high-performance brand will expand retail’s access to Corteva’s genetics, technology and traits and will drive growth and collaboration with Corteva Agriscience™ Crop Protection. In the U.S., Brevant will replace Mycogen® Seeds as Corteva’s primary U.S. retail-focused brand, bringing retail customers a new, agile way of doing business with Corteva. Brevant seeds will be available for planting in 2021.
Based on customer buying preferences in the Southern, Southwestern and Western U.S. Markets, Corteva is bringing focus and simplicity to its offer by providing corn and soybeans through a single brand in these geographies – Pioneer® brand. Corteva will expand the number of retailers offering Pioneer in select geographies and will retire Terral® Seeds and the REV® brand. PhytoGen® cottonseed will continue to be offered for sale through our existing retailers and distribution partners. A unified Pioneer and PhytoGen sales team will serve customers in the Mid-Southern and Southeastern U.S and support both brands.
“Corteva Agriscience is committed to delivering innovative, industry-leading products to our customers through their preferred channels,” said Judd O’Connor, president, U.S. Commercial Business for Corteva Agriscience. “U.S. growers who prefer the retail experience will now have greater access to our seed products, creating new opportunities for their farms, and for our company to grow.”
About one-third of U.S. farmers prefer to purchase their seed inputs through retail, which is also the primary route-to-market for Corteva Agriscience™ Crop Protection product sales.
“We have accelerated the pace of innovation to create the richest pipeline in the industry and we are making it simpler to do business with Corteva,” said Brian Barker, multi-channel seed brand leader for Corteva Agriscience. “We are bringing a winning offer to retail partners backed by dedicated and focused sales and support teams.
As previously announced, Corteva will continue to serve U.S. farmers through four regional corn and soybean seed brands in the U.S., including Dairyland Seed®, Hoegemeyer®, NuTech® and Seed Consultants®, which are strong in their respective markets. Pioneer® will remain the company’s global flagship seed brand with an industry leading, unique product portfolio and agency route-to-market approach. The company will also maintain the AgVenture® brand with its independent network of regional seed companies, the Alforex® brand and build its trait and genetics licensing business. Each seed brand within Corteva will have a broad, strong portfolio unique to its geography and market demands that will continue to be fed by Corteva’s leading Research and Development program and the full capabilities of the company.
The majority of employees and dealers who supported Terral® Seeds and Mycogen® Seeds will have alternative positions or dealership opportunities with Corteva.
Corteva is committed to ensuring a smooth transition, and will honor program, product and service obligations for existing seed orders and the 2020 growing season. Farmers, dealers, retailers and distributors should contact their local seed representative or account manager for additional information.
About Corteva Agriscience
Corteva, Inc. is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.
Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “estimates”, or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva’s strategy for growth, product development and offerings, sales estimates, regulatory approval, and market position, are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Corteva’s control. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, and similar risks, any of which could have a material adverse effect on Corteva’s business, results of operations and financial condition. Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in Corteva’s Annual Report on Form 10-K under “Risk Factors” and supplemented by subsequent Quarterly Reports and Current Reports on Forms 10-Q and 8-K, respectively.
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