FMC Corp. signed a definitive agreement to acquire Danish crop protection company Cheminova A/S, a subsidiary of Auriga Industries A/S.
The $1.8 billion transaction is expected to close in early 2015 and is accretive to adjusted earnings in the first full year following the acquisition.
Pierre Brondeau, FMC president, CEO and chairman, remarked the acquisition will greatly benefit the company’s agricultural solutions portfolio but also bring complementary technologies in insecticides and herbicides, enhancing FMC’s fungicide portfolio and adding a growing micronutrient business.
“Cheminova has a portfolio of more than 60 active ingredients, over 2,300 registrations and a pipeline of active ingredients currently under development,” Brondeau said. “It is the addition of this broad suite of technology that is particularly exciting to us, and we firmly expect to increase our pace of new product launches in the coming seasons as a direct result of adding Cheminova’s capabilities to ours.”
