TAGS: Marketing, Overseas December 18, 2014 On Wednesday, BASF closed its acquisition of assets from Bayer, thus adding seeds, additional herbicides and nematicide seed treatments to the company’s portfolio. The company says the products are a strategic complement to its own competencies. To “reflect the expanded scope of its agriculture business,” BASF renamed its crop protection division Agricultural Solutions. It also established a new global business unit for seeds and traits. BASF originally signed agreements to buy Bayer’s assets in October 2017 and April 2018. The all-cash purchase price was 7.6 billion euros. The company will gain about 4,500 employees plus Bayer’s global glufosinate-ammonium business; seeds businesses including traits, research and breeding capabilities and trademarks for key row crops in select markets. BASF also gets the Bayer vegetable seeds business; the research and development platform for hybrid wheat; seed treatment products; certain glyphosate herbicides in Europe; the digital farming platform xarvio; and non-selective herbicide and nematicide research projects. All transactions, with the exception of the vegetable seeds business that is expected to close in mid-August, are now complete. “This acquisition transforms BASF in agriculture. It strengthens our market position in agricultural solutions and creates new opportunities for growth,” said Saori Dubourg, member of the board of executive directors of BASF SE and responsible for the Agricultural Solutions segment, in a recent press release.
German chemical producer BASF has closed the €7.6bn ($8.8bn) cash acquisition of Bayer assets, which BASF said are a "strategic complement" to its existing portfolio. The purchase includes Bayer’s global glufosinate-ammonium and seed business, as well as the vegetable seeds division, nematicide research projects and digital farming platform xarvio. Following the acquisition, BASF has renamed its crop protection unit Agricultural Solutions, and set up a global business unit for seeds and traits.