BASF to Buy Becker Underwood for $1.02 Billion

Markus Heldt, BASF

BASF on Sept. 20 said it would acquire U.S.-based seed treatment company Becker Underwood for $1.02 billion.

Becker is headquartered in Ames, Iowa, and is one of the leading global providers of technologies for biological seed treatment, seed treatment colors and polymers, as well as products in the areas of biological crop protection, turf and horticulture, animal nutrition and landscape colorants and coatings. The company has 10 production sites worldwide and 479 employees. BASF came to an agreement with Norwest Equity Partners (NEP) to acquire Becker Underwood which has been a portfolio company of NEP since 2004. The purchase is subject to approval by the responsible authorities and legal closing of the transaction is expected by the end of 2012.

“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. Becker Underwood is to become part of BASF and we are excited that together with our new colleagues we can continue expanding our competencies. Particularly in the rapidly-growing seed treatment market, we will be able to develop innovative solutions for agriculture,” Dr. Andreas Kreimeyer, Research Executive Director and member of the BASF board responsible for the Agricultural Solutions segment, said in a statement.

Becker Underwood is expected to achieve sales of $240 million for fiscal year 2012, ending on Sept. 30. 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 BASF’s existing research, development and marketing activities in the areas of seed treatment, biological crop protection, plant health, as well as water and resource management with those of Becker Underwood. Becker Underwood’s animal nutrition business will be integrated into BASF’s Nutrition & Health division.

“Becker Underwood has a strong position in North America. We will continue to expand this core business as we expand globally. Together we can sustainably create value for our customers,” said Markus Heldt, President of BASF’s Crop Protection division. “We are thrilled at the prospect of working with the highly-qualified employees at Becker Underwood as we continue to develop our combined businesses.”

Upon receiving the necessary legal approvals, the majority of Becker Underwood’s business will be integrated into BASF’s Crop Protection division. In 2011, the division recorded sales of around €4.2 billion and is expecting another top year in 2012 as well. With its products and services, BASF helps growers to improve their yields and the quality of their products.

Source: BASF; edited by Managing Editor Jaclyn Sindrich

Topics: ,

Agrichemicals

Agrichemicals

FMC Corp. Receives Clearances to Acquire DuPont Crop Protection Assets

FMC Corp. has received approval from the Competition Commission of India (CCI) for the proposed acquisition of a significant portion

Agrichemicals

Arkansas Plant Board Backs 2018 Regulatory Changes for Dicamba

The Board’s regulatory changes concerning the use of dicamba will now be subject to a 30-day public comment period which will be followed by a public hearing that will be held on Nov. 8.

Agrichemicals

Univar Acquires Tagma Brasil

Tagma formulates more than 200 registered crop protection products and provides conception and preparation of new formulations; adaption of existing formulations; and technical assistance with processing and regulatory requirements.

Agrichemicals

Cropchem Obtains Registration for Three Formulations in Brazil

Cropchem, a Brazilian company specialized in the distribution of pesticides in the Brazilian market, has obtained the final registration for

Agrichemicals

How AgroStar Is Leading the Way to Simplify India’s Distribution

The start-up and innovative disruptor talks to AgriBusiness Global about how its farmer-facing app is changing distribution in India.

Agrichemicals

Kleffmann Group Expands, Strengthens amis AgriGlobe

Based on the rising client interest in aggregated market data for global crop protection and seed markets and the need to evolve dynamically in response to the complex clients’ requests, Kleffmann Group has strengthened its’ Consulting Division amis®AgriGlobe®.

Agrichemicals

Bayer Dismisses Antitrust Concerns about Digital Farming

Bayer said it was unable to propose the sale of any digital farming assets to allay EU concerns about its

Agrichemicals

Bayer Sees Brazil ‘Returning to Normal in 2018’; Reveals R&D Plans

Liam Condon presents at the company’s Future of Farming Dialog 2017 on Sept. 18-20.

Agrichemicals

Thailand Proposes to Ban Paraquat, Chlorpyrifos by 2019

CropLife Asia issues statement.

Fungicides

BASF Introduces Pageant TR Intrinsic Brand Fungicide

BASF has introduced Pageant TR Intrinsic brand fungicide, the newest in its line of Total Release fungicide and insecticide solutions.

Agrichemicals

Will Mega-mergers Change the Agriculture Industry’s DNA?

The recent mergers of numerous chemical and agricultural companies are said to be the biggest farm-business oligopoly in history. An

Agrichemicals

Syngenta: Court Rules in its Favor in Patent Infringement Suit

The jury found that Willowood infringed a patent relating to the manufacture of the fungicide azoxystrobin.

Agrichemicals

Bayer, Bosch Develop Smart Spraying Technology for Crop Protection

Concept to be presented at Agritechnica 2017 in Hanover.

Agrichemicals

FMC Launches Incentive Program

FMC Freedom Pass, started Sept. 1, 2017, is available to growers who purchase FMC crop protection products from an authorized retailer.

Agrichemicals

BASF Bids on Bayer Seed Assets – Reuters

DowDuPont and Syngenta AG are also competing for Bayer’s canola, cotton and soybean seed varieties, as well as the Liberty herbicide system.

Agrichemicals

New Bayer CFO to Lead Monsanto Integration

Bayer AG has named a new chief financial officer who, among other duties, will lead the integration of Monsanto Co.

Agrichemicals

Dow Expands Enlist System with Addition of Enlist One

With the ability to tank-mix with glufosinate, farmers can use Enlist One in their weed control programs that feature multiple modes of action.

Nufarm-Photo-credit-Luis-Ascui
Agrichemicals

Nufarm Assessing Global Acquisitions

Crop protection company Nufarm says it is considering a number of acquisitions in response to speculation it could pounce on

Herbicides

Iowa Farmers Make Record Number of Pesticide Misuse Claims

About three-fourths of Shane Susie’s 80-acre soybean field was damaged after getting hit with dicamba that drifted over his crops

Latest News

Agrichemicals

FMC Corp. Receives Clearances to Acquire DuPont Crop Protection Assets

FMC Corp. has received approval from the Competition Commission of India (CCI) for the proposed acquisition of a significant portion

Agrichemicals

Arkansas Plant Board Backs 2018 Regulatory Changes for Dicamba

The Board’s regulatory changes concerning the use of dicamba will now be subject to a 30-day public comment period which will be followed by a public hearing that will be held on Nov. 8.

Agrichemicals

Univar Acquires Tagma Brasil

Tagma formulates more than 200 registered crop protection products and provides conception and preparation of new formulations; adaption of existing formulations; and technical assistance with processing and regulatory requirements.

Agrichemicals

Cropchem Obtains Registration for Three Formulations in Brazil

Cropchem, a Brazilian company specialized in the distribution of pesticides in the Brazilian market, has obtained the final registration for

Agrichemicals

How AgroStar Is Leading the Way to Simplify India’s Distribution

The start-up and innovative disruptor talks to AgriBusiness Global about how its farmer-facing app is changing distribution in India.