BASF completes acquisition
BASF has completed its $1.02 billion purchase of Becker Underwood from Norwest Equity Partners.
With this acquisition BASF adds biological seed treatment as well as seed treatment colorants and polymers to its product portfolio.
“The acquisition fits very well with our long-term growth strategy. It will provide our customers with an even broader range of innovative solutions for agriculture,” said Andreas Kreimeyer, member of BASF’s board of executive directors, in a BASF press release.
Most of the Becker Underwood business will join BASF’s newly established Functional Crop Care (FCC) global business unit, part of the Crop Protection division.
The FCC unit will become effective Jan. 1, 2013 and will be led by Juergen Huff, senior vice president.