BASF announced Nov. 28 that it has completed the acquisition of Iowa-based seed treatment technology firm Becker Underwood.
BASF announced in September that it would acquire the company from private equity firm Norwest Equity Partners for $1.02 billion (Feedstuffs, Sept. 24).
BASF said the acquisition advances its role as a leading global provider of technologies for biological seed treatment as well as seed treatment colorants and polymers. Most of the Becker businesses will join BASF's newly established Functional Crop Care unit within BASF Crop Protection.
The company said acquiring Becker was part of a long-term growth strategy to expand the BASF product portfolio in biological crop protection, turf and horticulture and animal nutrition.
In the coming months, BASF leadership will work with Becker employees to develop a detailed integration plan. For now, it is known that BASF and Becker will merge their existing research, development and marketing activities in the areas of seed treatment, biological crop protection, plant health and water and resource management as part of the new crop care unit.
Becker's animal nutrition business, meanwhile, will be integrated into BASF's Nutrition & Health division.
In 2011, BASF Crop Protection reported sales of €4.2 billion. The division is based in Ludwigshafen, Germany, and has its North American operations base in Research Triangle Park, N.C.