May 16, 2021
Gowan purchases Piemme, which has control over Isagro

Gowan Co. announced May 14 the close of the agreement to purchase all the capital of Piemme S.r.l. from Giorgio Basile and other shareholders, representing 99.9% of the corporate capital in Piemme. Piemme S.r.l. is the indirect controlling shareholder of Isagro S.p.A.

According to a news release, the transaction is the first step in Gowan Co.’s plan to purchase all of the shares of Isagro S.p.A.

Isagro is the owner of important active ingredients, including copper hydroxide/oxychloride, tetraconazole and kiralaxyl globally, and is well known for its research and development efforts in the crop protection and biopesticide industries. Isagro has been a partner of Gowan Co. since 2013, and Gowan now looks forward to expanding commercial opportunities, especially integrating the manufacturing and science depth at Isagro Group’s facilities. These additional competencies are instrumental in positioning Gowan as global agricultural practices evolve.

Gowan plans to move forward consistent with Italian law to launch – through its entirely owned subsidiary, Crop Demetra Limited – a mandatory tender offer (MTO) to purchase all outstanding shares of Isagro. As Gowan and Isagro progress through the integration planning process, we plan to continue serving our customers and partners with the same level of focus and quality.

At the close of this transaction, Giorgio Basile, CEO, and founder of Isagro, has resigned from Isagro’s board and from management of the company, along with three other directors nominated by his holding company.

Gowan announced that following these resignations, Isagro’s board has voted to add Robert Sanchez, Lourdes Gonzalez, Thomas Flitsch, and Samantha Lawrence, all put forward by Gowan, to the Isagro Board of Directors.

Isagro’s board has also now appointed Roberto Bonetti as chairman and CEO of Isagro. Bonetti has over 18 years of experience working with Isagro in various roles, including chief operating officer and membership on its board of directors. Bonetti has also served as Gowan’s Business Development Manager – Corporate Investments since 2017.

Current Issue

Crunch Time Apple Growers expand retail outlets, growing acres for club apples

USApple: 244M bushels, down 5.7%

FGN 60th anniversary: Mechanical strawberry harvest got Michigan boost

Michigan Pomesters honor research technologist

A Q&A with Anna Wallis of Michigan State University

West Central Michigan’s new research station open

‘Genius Bar’ stage, return of social hour at 2021 Great Lakes EXPO

Biological industry maturing after decades of change

National Council of Agricultural Employers column: A show of hands outlines US farm labor trends

Notes from the Farm column: Machine maintenance proceeds amid world’s woes

see all current issue »

75 Applewood Drive, Suite A
P.O. Box 128
Sparta, MI 49345


Get one year of Fruit Growers News in both print and digital editions for only $15.50.

Interested in reading the print edition of Fruit Growers News?

Subscribe Today »

Be sure to check out our sister sites:
website development by deyo designs