Zurich | Reuters — Syngenta, the Swiss agrichemicals giant owned by ChemChina, has acquired Italian biologicals group Valagro, a company with US$175 million in 2019 sales that uses natural solutions to fight pests and diseases and to improve crops.
Syngenta said in a statement Tuesday the acquisition positioned its crop protection business as a key player in the biologics sector, which was set to double over the next five years. It gave no financial terms of the buyout.
Valagro serves customers around the world, with a strong presence in Europe and North America and a growing footprint in Asia and Latin America, Syngenta said.
Valagro has more than 700 employees, 13 subsidiaries and eight production sites. Its U.S. arm, now based near Miami, was set up in 2003 under the name Nutrecology, in a joint venture with Lidochem; that operation rebranded as Valagro USA in 2011.
Valagro’s product lines in Canada, which include Megafol and Viva fertilizers and Brexil and Axilo micronutrients, are marketed via the U.S. arm.
The company expects to complete its first U.S. manufacturing site next year at Orangeburg, S.C., about 120 km northwest of Charleston.
— Reporting for Reuters by Oliver Hirt, writing by Michael Shields. Includes files from Glacier FarmMedia Network staff.