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Wednesday, September 28, 2022

Corteva Agriscience acquires Spain’s Symborgo

Corteva AgriScience and Symborg today announced the signing of a definitive agreement whereby the North American company will acquire the Spanish company Symborg, a specialist in microbiological technologies based in Murcia. 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.

The acquisition is part of the execution of a strategy to accelerate Corteva Agriscience’s vision to become a leader in organic products.

“The acquisition of Cymborg is a significant step in Corteva’s strategy to accelerate the growth of a world-class biologics portfolio as part of the integrated solutions we provide to our customers,” he says. Robert King, Executive Vice President, Crop Protection Business Unit, Corteva AgriScience, “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 state-of-the-art organic solutions,” he explains. Jesus Juarez, founding partner and CEO of Symborg, “This motivation, coupled with a highly qualified team, has propelled us to become a major player in sustainable agriculture. The integration with Corteva becomes an opportunity to reinforce our influence in the region, helping farmers in the present and future. and beyond, an opportunity to respond to a society that demands safe and sustainable food. Simborg and Corteva share values ​​and a vision of the market, designing the future of agriculture To become a great union”.

The termination of the acquisition is subject to customary conditions. Subsequently, Symborg’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.

World Nation News Desk
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