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Thursday, September 29, 2022

Company / Corteva Agriscience signed an agreement to acquire the Spanish company Symborg

The acquisition is part of the execution of a strategy to accelerate Corteva Agriscience’s vision to become a leader in organic products, providing natural alternatives that help farmers meet changing market expectations.

Symborg, a leader in organic products for agriculture, with its headquarters in Murcia, maintains its human team along with its subsidiaries in the United States, Mexico, Peru, Chile, Brazil, France, Turkey, China and Australia. Is.

Corteva, Inc. (NYSE: CTVA) and Symborg announced today that Corteva has entered into a definitive agreement to acquire Symborg, a Murcia-based company specializing in microbiological technologies. Regarded across the industry for its biologics, Symborg has a diverse portfolio, an emerging biocontrol project, and a skilled employee base with strong technical knowledge and demand generation experience.

Robert King, executive vice president of Corteva’s Corteva unit, said, “The acquisition of Symberg is an important step in Corteva’s strategy to accelerate the growth of our best-in-class biologics portfolio as part of integrated solutions to our customers. ” Crop protection business of agronomy. “Over the past three years, Corteva has established licensing and distribution agreements with leading biologics companies, which have been selected after evaluating technologies and demonstrating customer acceptance. This acquisition has positioned itself as a technology in this rapidly growing segment. Shows Corteva’s progress to establish herself as leader.

Corteva previously collaborated with Symborg to expand and bring Utrisha™ N and BlueN™, nutrient efficiency optimizers, to farmers as part of a distribution agreement between the two companies. The innovative biostimulant of natural origin allows plants to fix nitrogen from the air and make it available to the plant, providing an alternative and supplemental nitrogen source and potentially reducing greenhouse gas emissions from the use of fertilizers.

This transaction continues Corteva’s commitment to building a more differentiated and sustainably profitable portfolio that provides profitable solutions for farmers. Corteva will leverage synergies between organizations to expand existing Symborg solutions as well as new products in development.

“Cyborg’s goal has always been to support farmers around the world with cutting-edge organic solutions,” explains Cyborg Founding Partner and CEO, Jess Juárez. “This motivation, coupled with a highly qualified team, drives us to become a major player in sustainable agriculture. The integration with Corteva creates an opportunity to strengthen our influence in the region, helping farmers face the challenges of present and future and beyond, an opportunity to respond to a society that demands safe and sustainable food. Simborg and Corteva share values ​​and market vision, to design the future of agriculture make a great union”.

The termination of the acquisition is subject to customary closing conditions. After closing, Cymborg’s facilities in Murcia, Spain, and subsidiaries in the United States, Mexico, Peru, Chile, Brazil, France, Turkey, China and Australia will become key elements of Corteva’s biologics portfolio.

Financial terms and conditions of the deal were not disclosed.

AdvisorsRoth Capital Partners, LLC acted as the exclusive financial advisor to Symborg, with Delsaz Abogados and D. Javier Messira Suarez served as legal advisor to Symborg and Tarabini-Castellani acted as an advisor to Symborg’s founding partners.

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