ST. LOUIS--(BUSINESS WIRE)--
Monsanto Company (NYSE: MON) and The Scotts Miracle-Gro Company (NYSE:
SMG), the leading marketer of branded consumer lawn and garden products,
today announced the two companies have extended their nearly two-decade
long partnership in the lawn and garden consumer market.

Since 1999, Scotts Miracle-Gro, through one of its subsidiaries, has
served as Monsanto's exclusive agent for the marketing and distribution
of Roundup® non-selective herbicides in the consumer lawn and
garden market within the United States and select international markets.
Today’s agreement will unlock additional value in the Roundup brand in
the lawn and garden segment by providing Scotts with an extended license
to use the Roundup brand in new lawn and garden product categories and
broaden their marketing rights into new geographies.

As part of the extension, Monsanto also renewed and expanded the terms
of its marketing agreement with Scotts and provided preferred access to
Monsanto’s R&D pipeline for lawn and garden.

“This agreement highlights the value of the Roundup brand and extends
the relationship with a long-term, trusted partner,” said Kerry Preete,
Monsanto Executive Vice President of Global Strategy. “It also further
demonstrates our commitment to our broad licensing strategy. Monsanto
looks forward to the continued partnership with Scotts as we work to
deliver consumers with a diverse range of lawn and garden solutions.”

Under the agreement, Scotts will pay Monsanto a one-time upfront payment
of $300 million in exchange for a Roundup® brand license,
extended agency agreement and technology agreement.

Monsanto’s President and COO Brett Begemann will speak
today at the BMO 10th Annual Farm to Market Conference
at 11:30 AM
CT (12:30 PM ET). Brett will discuss product performance, the company’s
strategic initiatives and long-term growth drivers, and other matters
related to the company’s business including today’s announcement with
Scotts.

About Monsanto Company

Monsanto is committed to bringing a broad range of solutions to help
nourish our growing world. We produce seeds for fruits, vegetables and
key crops – such as corn, soybeans, and cotton – that help farmers have
better harvests while using water and other important resources more
efficiently. We work to find sustainable solutions for soil health, help
farmers use data to improve farming practices and conserve natural
resources, and provide crop protection products to minimize damage from
pests and disease. Through programs and partnerships, we collaborate
with farmers, researchers, nonprofit organizations, universities and
others to help tackle some of the world’s biggest challenges. To learn
more about Monsanto, our commitments and our more than 20,000 dedicated
employees, please visit: discover.monsanto.com
and monsanto.com.
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Cautionary Statements Regarding Forward-Looking Information:Certain
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of the factors that may affect actual results.