(NDAgConnection.com) – Corteva, Inc. and Stoller Group, Inc. announced that Corteva has signed a definitive agreement to acquire Houston-based Stoller, one of the largest independent Biologicals companies in the industry.
With operations and sales in more than 60 countries and 2022 forecasted revenues of more than $400 million, Stoller brings immediate scale and profitability, with EBITDA margins that will be accretive to Corteva.
The acquisition of Stoller reinforces Corteva’s commitment to providing farmers with Biological tools that complement evolving farming practices and help them meet changing market expectations. Stoller’s superior reputation for farmer relationships and demand creation centers around a commercial model that’s built upon sharing knowledge with the channel and farmers. Stoller has been successful by demonstrating technical excellence and delivering benefits and value of integrated solutions in the field.
“Biologicals provide farmers with sustainably-advantaged tools that complement crop protection technologies, and collectively, can work to address global challenges around food security and climate change. Stoller represents a leader in the Biologicals industry given its commercial presence and market expansion potential, while also delivering attractive growth and operating margins,” said Chuck Magro, Chief Executive Officer.
The Biologicals market is expected to grow high-single digits annually through 2035 representing approximately 25% of the overall crop protection market by 2035. In just three years, Corteva has developed a world-class Biologicals business by implementing smart, nimble strategies built around external and internal innovation, R&D collaborations, licensing and distribution agreements and acquisitions.
Stoller is the second Biologicals acquisition for Corteva this year, as the company recently announced it signed a definitive agreement to acquire Symborg, an expert in microbiological technologies based in Murcia, Spain. Corteva will bring together the complementary commercial and technical strengths of Stoller and Symborg as part of its Biologicals strategy.