Syngenta Acquires Biologicals Producer Valagro
9th October 2020
Swiss-based agrochemicals company Syngenta, part of the ChemChina group since June 2017, has acquired Italian biologicals firm Valagro for an undisclosed sum.
Headquartered in Atessa, Valagro has more than 700 employees and generated revenues of approximately $175 million in 2019. The company has 13 subsidiaries and eight production sites worldwide – two in Italy (Atessa and Cremo), one in Brazil, two in India and two in Norway. In October 2019, the company broke ground on a new plant in Orangeburg County, South Carolina, USA. Valagro also has an R&D center in Chieti, Italy.
Syngenta said the deal enables it to build a world-leading biologicals business with Valagro’s portfolio complementing its existing range of biostimulants and biocontrols as well as its future pipeline of biological solutions. It added that the rapidly growing biologicals market will nearly double in size over the next five years.
Syngenta CEO Erik Fyrwald said: “This acquisition underlines our growth ambitions in this area and positions us as one of the strongest players in the global biologicals market.” He added: “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.”
Valagro CEO Giuseppe Natale said that the takeover will “open up new, previously unimaginable growth prospects for the Valagro group worldwide.” The Italian company, which has a market-leading position in biostimulants and specialty nutrients, will continue to operate as an independent brand within the Syngenta Crop Protection business unit.
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