The statement says that Valagro will continue to operate as an independent brand in the market within the Syngenta Crop Protection business. Valagro has over 700 employees, 13 subsidiaries and 8 production sites around the world.
Valagro’s revenue for 2019 was given as approximately $175 million in 2019 in the statement. The financial terms of the transaction are not disclosed. Jefferies acted as sole financial advisor to Valagro, with Chiomenti acting as primary legal advisor.
“Valagro's well-established portfolio in biostimulants and specialty nutrients will complement both Syngenta Crop Protection's current range of biostimulants and biocontrols, as well as its future pipeline of biological solutions,” the statement read.
Erik Fyrwald, CEO of Syngenta Group stated: “We are looking forward to welcoming the Valagro team to Syngenta Group. This acquisition underlines our growth ambitions in this area and positions us as one of the strongest players in the global biologicals market. The investment also forms part of our $2 billion commitment to help farmers address the effects of climate change and improve agricultural sustainability as part of our Good Growth Plan.
”Giuseppe Natale, CEO Valagro said: “For 40 years our mission at Valagro has been to harness nature in order to help farmers achieve higher yields and grow better quality crops. This agreement will open up new, previously unimaginable growth prospects for the Valagro group worldwide. Now that we are part of a company with the resources and ambition of Syngenta Crop Protection, we have exciting new opportunities for our innovation to better deliver even more options for farmers and to invest even more effectively in the sustainable future of agriculture.”
READ OUR LATEST ENGLISH MAGAZINE HERE !