Corteva Agriscience to acquire Stoller Group for $1.2 billion
Corteva has signed a definitive agreement to acquire Houston-based Stoller, an independent biologicals company in the industry, for $1.2 billion.
With operations and sales in more than 60 countries and 2022 forecasted revenues of more than $400 million, Stoller brings immediate scale and profitability, with EBITDA margins that will be accretive to Corteva.
The acquisition of Stoller reinforces Corteva’s commitment to providing farmers with biological tools that complement evolving farming practices and help them meet changing market expectations. Stoller has been successful by demonstrating technical excellence and delivering benefits and value of integrated solutions in the field.
In three years, Corteva has developed a world-class biologicals business by implementing smart, nimble strategies built around external and internal innovation, R&D collaborations, licensing and distribution agreements, and acquisitions.
“In Stoller’s 50+ year history, we have successfully helped growers around the world increase their productivity and improve their sustainability. We are proud to join forces with Corteva as we share a vision of helping farmers succeed in growing the nutritious food the world relies on,” said Guillermo de la Borda, chief executive officer of Stoller. “This announcement is a true testament to the incredible success and dedication of our teams across the globe who have helped us become one of the most trusted biostimulant and plant health companies in the world. Our innovative solutions and deep expertise will continue to make an impact for years to come.”
Stoller is the second biologicals acquisition for Corteva this year, as it recently signed an agreement to acquire Symborg, an expert in microbiological technologies based in Murcia, Spain. Corteva will bring together the complementary commercial and technical strengths of Stoller and Symborg as part of its biologicals strategy.
The company will host a live webcast on Dec. 5, 11:00 a.m. – 11:30 a.m. EST to discuss additional details regarding the transaction and the company’s overall biologicals strategy.
Registration is available on the Events and Presentations Page of the Corteva Investor Relations website. A replay will also be available on the Investor Events and Presentations page until Dec. 5, 2023.