Croda acquires seed enhancement company Incotec

Croda acquires seed enhancement company Incotec

10:19 AM, 2nd December 2015
Croda acquires seed enhancement company Incotec
Steve Foots, chief executive, Croda. (File photo)

SNAITH, UK: Croda International Plc said that it has agreed to acquire Netherlands-headquartered Incotec Group BV, for €155 million (£109 million), inclusive of debt. The acquisition is expected to be completed on 4 December.

Through this acquisition, a broader, more innovative portfolio of products will be available to customers through an enlarged global research, technical capability and a dedicated global sales force.

Supported by further investment from Croda, the Incotec business will retain its independent identity and strong brand in offering priming, disinfecting, film coating, encrusting and pelleting expertise and providing analytical quality testing.

“With an experienced research and development led management team, Incotec brings differentiated market leading technologies, world class innovation and strong customer relationships. The combination with our own crop care business creates a strong and unique platform for future growth,” said Steve Foots, chief executive, Croda.

“We started to look for a new partner and shareholder earlier this year. With Croda we will continue to focus on empowerment and encouragement of innovation, sustainability and customer intimacy,” said Douwe Zijp, chief executive, Incotec Group.

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