05 March 2023, Indianapolis: Corteva, Inc. (NYSE: CTVA) cements its position as a global leader in the rapidly expanding Biologicals market with today’s announcement that it has closed the acquisitions of Symborg, an expert in microbiological technologies based in Murcia, Spain; and Stoller, one of the largest independent companies in the Biologicals industry, based in Houston, Texas, U.S.
“These acquisitions illustrate Corteva’s commitment to providing farmers with sustainable solutions that bring value and productivity to the farm,” said Chuck Magro, Chief Executive Officer, Corteva Agriscience. “We are pleased to officially welcome Symborg and Stoller employees to Corteva. We believe their knowledge and expertise, combined with Corteva’s innovations capabilities, will come together to form a leading Biologicals Business ready to accelerate and grow with the rapidly expanding biologicals market.”
Corteva first collaborated with Symborg to scale up and bring farmers Utrisha™ N and BlueN™ nutrient efficiency optimizers under a distribution agreement between the two companies. Symborg possesses a diversified portfolio, emerging biocontrol pipeline, and skilled employees with robust technical knowledge and demand generation expertise. With subsidiaries in Brazil, Chile, China, France, Mexico, Peru, Spain, Turkey, and the United States, Symborg reaches more than 50 countries with its innovative biological solutions. Stoller brings a strong track record of success with more than 50 years of experience in more than 60 countries. The company’s strong technical expertise and exceptional commercial model built on sharing knowledge have earned it a trusted reputation throughout the Biologicals industry.
The biologicals market is expected to be the fastest-growing crop protection segment in the industry, representing 25% of the overall market by 2035.
The acquisitions of Symborg and Stoller were announced in the second half of 2022. The acquisitions, which will be accretive to EBITDA in 2023, reinforce Corteva’s commitment to providing farmers with environmentally friendly, sustainable tools that complement evolving farming practices with proven effectiveness.
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