20 October 2022
Seed, crop protection and digital solutions provider to acquire Spanish company.
CORTEVA Agriscience's recent announcement that it was in the throes of acquiring Symborg, an expert in microbiological technologies, signifies the company's determination to accelerate the development of its biologicals portfolio, according to its Exective Vice President, Robert King.
Based in Murcia, Spain, Symborg possesses a diversified existing portfolio, an emerging biocontrol pipeline, and a skilled employee base with robust technical knowledge and demand generation expertise, Robert stated.
“Over the past three years, Corteva has established licensing and distribution agreements with the top biological companies, which we selected after evaluating technologies and demonstrating customer acceptance. This acquisition shows Corteva’s progression towards further establishing itself as a technology leader in this rapid growth segment.”
Closing of the acquisition is subject to customary closing conditions. Following the close, Symborg locations in Murcia, Spain and subsidiaries in the United States, Mexico, Peru, Chile, Brazil, France, Turkey, China and Australia will become key elements of Corteva’s Biologicals Portfolio.
Financial terms and conditions of the agreement have not been disclosed.