Corteva Buys Spanish Microbiological Expert
28.09.2022 - US agricultural company Corteva, which combines businesses formerly belonging to DuPont, Dow and Pioneer, has agreed to buy Symborg, an expert in microbiological technologies based in Murcia, Spain. Financial terms were not disclosed.
The companies are already working together, with Corteva having been previously appointed as exclusive distributor for Symborg’s BlueN and Utrisha nitrogen nutrient-efficiency optimizers. In March this year, the agreement was expanded to include a nitrogen-fixation product.
“Acquiring Symborg is a significant next step in Corteva’s strategy to accelerate the development of a best-in-class biologicals portfolio, as a valuable part of our integrated solutions we offer to our customers,” said Robert King, executive vice president of Corteva Agriscience’s crop protection business.
Over the past three years, King said, “Corteva has established licensing and distribution agreements with the top biological companies, which we selected after evaluating technologies and demonstrating customer acceptance. This acquisition shows Corteva’s progression towards further establishing itself as a technology leader in this rapid growth segment.”
Corteva said it will leverage the combined organizations to scale up Symborg’s current biological products, as well as new ones in development.
Closing of the acquisition is subject to the usual conditions. Following completion, Symborg’s sites in Murcia and its subsidiaries in the US, Mexico, Peru, Chile, Brazil, France, Turkey, China and Australia will become part of Corteva’s biologicals portfolio.
Author: Elaine Burridge, Freelance Journalist