Mar 7, 2023Corteva completes Stoller, Symborg acquisitions
Corteva Inc. has closed the acquisitions of Symborg, an expert in microbiological technologies, and Stoller, one of the largest independent companies in the biologicals industry.
“These acquisitions illustrate Corteva’s commitment to providing farmers with sustainable solutions that bring value and productivity to the farm,” Chuck Magro, CEO of Corteva Agriscience, said in a news release. “We are pleased to officially welcome Symborg and Stoller employees to Corteva. We believe their knowledge and expertise, combined with Corteva’s innovations capabilities, will come together to form a leading biologicals business ready to accelerate and grow with the rapidly expanding biologicals market.”
Corteva first collaborated with Murcia, Spain-based Symborg to scale up and bring farmers Utrisha N and BlueN nutrient efficiency optimizers under a distribution agreement between the two companies. Symborg possesses a diversified portfolio, emerging biocontrol pipeline, and skilled employees with robust technical knowledge and demand generation expertise. With subsidiaries in Brazil, Chile, China, France, Mexico, Peru, Spain, Turkey, and the U.S., Symborg reaches more than 50 countries with its innovative biological solutions.
Houston-based Stoller brings a strong track record of success with more than 50 years of experience in more than 60 countries. The company’s strong technical expertise and exceptional commercial model built on sharing knowledge have earned it a trusted reputation throughout the biologicals industry.
The biologicals market is expected to be the fastest-growing crop protection segment in the industry, representing 25% of the overall market by 2035, according to the release.
The acquisitions of Symborg and Stoller were announced in the second half of 2022. The acquisitions, which will be accretive to EBITDA in 2023, reinforce Corteva’s commitment to providing farmers with environmentally friendly, sustainable tools that complement evolving farming practices with proven effectiveness.