BASF to Buy Becker Underwood for $1.02 Billion

By: |

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: ,

Crop Protection

Crop Protection

Excel Crop Care Names New Executive Director

  Hrishit A. Shroff was appointed as the Executive Director of the Excel Crop Care Limited effective August 1, 2015. He

Crop Protection

More Than 1,000 Products Searched for on FCISourcing.com

The FCI Sourcing Network continues to add suppliers and products. During just the month of August visitors explored more than

Crop Protection

Eden Research Fungicide Approved for Use in Greece

Eden Research Plc’s first agrochemical product, 3AEY, a fungicide that primarily targets Botrytis on grapes, has been approved for commercial

Crop Protection

FMC Corporation Extends Partnership with Monsanto for Roundup Ready PLUS Crop Management Solutions

FMC Corporation and Monsanto Company will continue their participation in the Roundup Ready PLUS Crop Management Solutions platform. The agreement includes FMC’s

Americas

Syngenta’s Solatenol Fungicide Receives EPA Registration

Solatenol, Syngenta’s newest succinate dehydrogenase inhibitor (SDHI) fungicide has received registration from the U.S. Environmental Protection Agency and is now available

Crop Protection

Bayer CropScience Launches Soybean SDS Website

Soybean Sudden Death Syndrome has gone from a virtually unknown disease in 1971 to one that caused 60 million bushels

Biotechnology

Godrej Agrovet Purchases Stake in Astec Lifesciences

Godrej Agrovet Ltd, the agribusiness division of Godrej Industries Ltd, will buy 45.29% stake in agrochemicals and pharmaceutical intermediates firm Astec

Americas

Charah Expands Fertilizer Business Internationally

Charah Agricultural Products business completed its first international delivery of SUL4R-PLUS fertilizer to a customer in the Dominican Republic

Biotechnology

Dow and ICS-CAAS Join Forces to Further Rice Research and Product Development in China

Looking to capitalize on expertise and to develop new rice products, Dow AgroSciences LLC, a wholly owned subsidiary of The

Americas

BASF, Embrapa Launch First GM Soybean Fully Developed in Brazil

BASF and Empresa Brasileira de Pesquisa Agropecuária (Embrapa) launched the Cultivance Production System, which contains the first genetically modified soybean fully developed

Crop Protection

Monsanto Drops Bid to Acquire Syngenta

After its latest offer to Syngenta was rebuffed, Monsanto has dropped its bid to acquire the company. “Without a basis

Americas

Sumitomo Chemical to Establish R&D Base in Brazil

Sumitomo Chemical announced it will place its “Latin America Research Center” in Brazil where scientists will conduct efficacy trials, research

Americas

Syngenta Introduces Winter Wheat and New Corn Hybrids

Syngenta introduced AgriPro winter wheat that can withstand changing weather conditions in the deep South and 63 new corn hybrids

Africa

GMO Ban in Kenya Will Soon Be Lifted

The Kenyan government will lift the ban on GMOs in two months, according to Deputy President H.E William Ruto, according

Americas

2015 U.S. Farm Income Seen Lowest Since 2006

Net farm income is forecast to be $58.3 billion in 2015, down 36% from 2014’s estimate of $91.1 billion.

Crop Protection

Dow AgroSciences and DuPont Pioneer Join The International Seed Testing Association

Dow AgroSciences and DuPont Pioneer will become the first industry members to join the International Seed Testing Association. “It is

Biologicals

Koppert Enters Joint Venture in Hyderabad

KoSSIL is a joint venture between Koppert Biological Systems India and the local Devanur family, promotor of SOM Phytopharma Limited (India) and Agri Life.

Africa

FCI Sourcing Network Enjoys Successful Launch

The FCI Sourcing Network launched just weeks ago has already generated a great deal of interest from manufacturers and distributors looking to

Americas

Environmental Respect Awards Program Celebrates With Four Ambassadors From Around The Globe

Although the Environmental Respect Awards programs, sponsored by DuPont Crop Protection with assistance from CropLife and FCI magazines has previously

Latest News

Crop Protection

Excel Crop Care Names New Executive Director

  Hrishit A. Shroff was appointed as the Executive Director of the Excel Crop Care Limited effective August 1, 2015. He

Industry News

Arysta LifeScience Announces New Business Unit Head for North America

Arysta LifeScience North America announces the addition of Rico Christensen, Business Unit Head, North America. Christensen will have responsibility for

Crop Protection

More Than 1,000 Products Searched for on FCISourcing.com

The FCI Sourcing Network continues to add suppliers and products. During just the month of August visitors explored more than

Crop Protection

Eden Research Fungicide Approved for Use in Greece

Eden Research Plc’s first agrochemical product, 3AEY, a fungicide that primarily targets Botrytis on grapes, has been approved for commercial

Crop Protection

FMC Corporation Extends Partnership with Monsanto for Roundup Ready PLUS Crop Management Solutions

FMC Corporation and Monsanto Company will continue their participation in the Roundup Ready PLUS Crop Management Solutions platform. The agreement includes FMC’s