Biobest has signed a non-binding letter of intent to acquire BioWorks, Inc., a Victor, NY-based manufacturer, and marketer of biopesticides.
The proposed acquisition will accelerate Biobest Group’s expansion into biopesticides using BioWorks’ portfolio of biopesticides for disease and insect control as well as its product development, marketing and logistics expertise. With a continued focus on the horticulture and specialty agriculture markets, and as a member of Biobest Group following the proposed acquisition, BioWorks will expand its range of biopesticide solutions for growers.
"Upon consummation of the proposed acquisition, BioWorks will continue to actively service the highly effective distribution channels it has developed over the past 30 years while adding new and unique biopesticides that will expand the range of biocontrol solutions available to growers,” said Jean-Marc Vandoorne, Biobest’s CEO. “BioWorks will operate independent of Biobest’s beneficial insect and pollination business and Biobest’s North American subsidiaries.”
BioWorks’ headquarters will serve as the North American manufacturing and marketing hub for biopesticides for the entire organization. The Victor, NY facility features more than 55,000 square feet and combines office, manufacturing, research and development, and warehouse space serving all North America. BioWorks also has warehouse and shipping space in Las Vegas, NV.
The transaction is subject to necessary approvals.
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