BASF strengthens crop protection business, acquires Becker Underwood

BASF strengthens crop protection business, acquires Becker Underwood

4:53 AM, 21st September 2012
BASF strengthens crop protection business, acquires Becker Underwood
Dr Andreas Kreimeyer, Member, Board of Executive Directors, BASF.

LUDWIGSHAFEN, GERMANY: BASF has agreed with Norwest Equity Partners (NEP) to acquire Becker Underwood, for $1.02 billion (€785 million). Subject to necessary approvals the transaction is expected to close by end of 2012.

Headquartered in Ames, Iowa, Becker is one of the leading global providers of technologies for biological seed treatment, seed treatment colours and polymers, as well as products in the areas of biological crop protection, turf and horticulture, animal nutrition and landscape colourants and coatings. Becker Underwood has 10 production sites worldwide and 479 employees.

“We are impressed with Becker Underwood’s ability to translate growers’ needs into innovative, tailor-made solutions that can promote higher yields while conserving resources. Particularly in the rapidly-growing seed treatment market, we will be able to develop innovative solutions for agriculture,” said Dr Andreas Kreimeyer, Member, Board of Executive Directors, BASF.

Becker Underwood is expected to achieve sales of $240 million (€185 million) for fiscal year 2012, ending on September 30. Upon receiving the necessary legal approvals, the majority of Becker Underwood’s business will be integrated into BASF’s Crop Protection division. As part of the acquisition, BASF’s crop protection division will create a strategic global business unit called functional crop care.

The unit will merge existing R&D and marketing activities in the areas of seed treatment, biological crop protection, plant health, as well as water and resource management for both the companies. Becker Underwood’s animal nutrition business will be integrated into BASF’s Nutrition & Health division.

“Strengthened by the power of BASF’s research capabilities as well as its existing portfolio of solutions, we will be able to develop and globally market new types of solutions for growers,” emphasized Dr Peter Innes, Chief Executive Officer of Becker Underwood.

© WOC News



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