Corteva to acquire American plant-science company Stoller for $1.2bn
American agricultural chemical and seed company Corteva has agreed to acquire Stoller Group, a US-based multinational plant-science company, in an all-cash transaction valued at $1.2 billion.
The deal marks Corteva’s second biologicals acquisition this year. It is expected to strengthen Corteva’s assurance to offer biological tools to farmers.
Stoller offers physiological-signaling compounds such as plant hormones, microorganisms, and high-technology nutrients, to advance plant competence and encourage plant resilience.
Chuck Magro — Corteva CEO said: “Biologicals provide farmers with sustainably-advantaged tools that complement crop protection technologies, and collectively, can work to address global challenges around food security and climate change.
“Stoller represents a leader in the Biologicals industry given its commercial presence and market expansion potential, while also delivering attractive growth and operating margins.
“In combination with Corteva’s leading innovation organization, Stoller provides a platform for expanding and accelerating Corteva’s Biologicals business to become one of the largest players in the rapidly expanding Biologicals market.”
Corteva to acquire American plant-science company Stoller for $1.2bn. Photo courtesy of Stoller Group.
Stoller has operations and sales in over 60 countries with 2022 forecasted revenues of $400 million plus.
Guillermo de la Borda — Stoller CEO said: “We are proud to join forces with Corteva as we share a vision of helping farmers succeed in growing the nutritious food the world relies on.
“This announcement is a true testament to the incredible success and dedication of our teams across the globe who have helped us become one of the most trusted biostimulant and plant health companies in the world.
“Our innovative solutions and deep expertise will continue to make an impact for years to come.”
Recently, Corteva has signed an agreement to acquire Murcia, Spain-based Symborg, a microbiological technologies company.
As part of its biologicals strategy, Corteva will bring together the commercial and technical capabilities of Symborg and Stoller.
The Stoller transaction is anticipated to be completed in the first half of 2023, subject to regulatory approvals and customary closing conditions.