The Gowan Company has entered into a binding agreement to purchase all shares of Piemme S.r.l from shareholders including Giorgio Basile, chairman of Isagro. Piemme S.r.l is the controlling shareholder of Isagro S.p.A. Gowan said the purchase of Piemme S.r.l shares is the first step in the company’s purchase of all shares of Isagro S.p.A.
Isagro is the owner of active ingredients including copper hydroxide/oxychloride, tetraconazole and kiralaxyl globally, and is known for its research and development efforts in the agrochemical and biopesticide industries.
Gowan, headquartered in Yuma, Ariz., operates globally in the agricultural solutions business and is specialized in developing, marketing and processing inputs such as insecticides, herbicides and miticides.
“As a partner since 2013, Isagro has repeatedly impressed us,” Juli Jessen, CEO of Gowan Group, said. “We look 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.”
At the closing of its purchase of Piemme, Gowan will launch a mandatory tender offer (MTO) to purchase all outstanding shares of Isagro. The purchase will close following the clearance by regulatory authorities. Gowan expects the purchase will close within the first quarter of 2021 and the MTO to be completed by the third quarter of 2021.
