Syngenta announced the acquisition of Valagro, an Italian biological crop input company, on Tuesday.
The deal will boost Syngenta’s presence in the growing biologicals market, which some have predicted could nearly double in size over the next five years.
“We are looking forward to welcoming the Valagro team to Syngenta Group,” says Erik Fyrwald, CEO of Syngenta, in a news release. “This acquisition underlines our growth ambitions in this area and positions us as one of the strongest players in the global biologicals market. The investment also forms part of our $2 billion commitment to help farmers address the effects of climate change and improve agricultural sustainability as part of our Good Growth Plan.”
Syngenta says Valagro will continue to operate as an independent brand.
The Italian-based company’s portfolio includes biocontrols, biostimulants, and specialty nutrients, including Megafol and Viva fertilizers and Brexil and Axilo micronutrients.
Valagro reported revenue of approximately $175 million in 2019, and has over 700 employees, 13 subsidiaries, and eight production sites around the world in Italy, Brazil, India, Norway, as well as plans for a production plant in the U.S.
Syngenta has not disclosed the purchase price for acquiring Valagro.