Biobest agrees to acquire Biotrop

摘要

Belgian biological pest control company Biobest(Westerlo)has agreed to acquire Brazilian company Biotrop Solucoes Biológica.The Brazilian business is valued at €532 million($569 million at the current rate).The deal was agreed with Biotrop parent company Aqua Capital.The acquisition is expected to close by the end of the year on the condition that the Brazilian competition authority,the Cade,approves the takeover.The deal would initially involve Biobest’s purchase of 85% of the Brazilian business.The rest of the company would be acquired over a three-year transition,reportedly based upon undisclosed conditions.The Belgian company says that the takeover would enable its taking a major position in South America,and start its transformation from a horticulture biocontrol and pollination specialist into a major biologicals player in agriculture,covering biocontrols,inoculants,biostimulants and pollination for covered and field crops.