BASF plans to acquire Becker Underwood for a price of $1.02 billion (€785 million). BASF came to an agreement with Norwest Equity Partners (NEP) to acquire Becker Underwood which has been a portfolio company of NEP since 2004.
Becker Underwood is to become part of BASF and we are excited that together with our new colleagues we can continue expanding our competencies. Particularly in the rapidly-growing seed treatment market, we will be able to develop innovative solutions for agriculture,” said Dr. Andreas Kreimeyer, Research Executive Director and Member of BASF’s Board of Executive Directors responsible for the Agricultural Solutions segment.
“Over the past years, Becker Underwood has established itself as an innovative provider of solutions for agriculture,” emphasised Dr. Peter Innes, Chief Executive Officer of Becker Underwood. “Strengthened by the power of BASF’s research capabilities as well as its existing portfolio of solutions, we will be able to develop and globally market new types of solutions for growers.”
“Becker Underwood has a strong position in North America. We will continue to expand this core business as we expand globally. said Markus Heldt, President of BASF’s Crop Protection division. “We are thrilled at the prospect of working with the highly-qualified employees at Becker Underwood as we continue to develop our combined businesses.”
Upon receiving the necessary legal approvals, the majority of Becker Underwood’s business will be integrated into BASF’s Crop Protection division.