WINNIPEG, Manitoba, July 4 (Reuters) - The Canadian division of agriculture and biotechnology giant Monsanto Co. said on Wednesday it had purchased Limagrain Canada Seeds Inc., a small Saskatchewan-based canola seed research, production and marketing company.

"This just basically gives us a canola seed asset that includes canola germplasm and the license agreements, a breeding program and any current and future varieties," said Trish Jordan, a spokeswoman for Winnipeg-based Monsanto Canada.

Under the purchase agreement, the cost of which company officials did not disclose, Monsanto Canada acquired a 100 percent equity stake in Limagrain, which has 42 employees and is based in Saskatoon, Saskatchewan, a center for agricultural research.

The new company will be called Monsanto Canada Seeds.

While Monsanto officials said this was a relatively small purchase for the company, it was seen as an important complement to its biotechnology research.

"The purchase also gives Monsanto a leadership position in a North American canola business with links to cutting-edge canola technology," Gord Froehlich, a spokesman for Monsanto Canada, said in a statement.

Limagrain Seeds was a subsidiary of Limagrain Genetics Inc., part of French seed breeder and producer Groupe Limagrain.

Monsanto Canada Seeds will now focus on the research, production and marketing of elite corn and soybean seeds under the Pride brand, company officials said.

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