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Last issue articles
- Biome: the space gaining protagonism in biological strategies for crops
- The export dynamics driving the Mexican biologicals market
- New model developed to evaluate effects of two or more biostimulants combined in a single crop
- Dr. Wagner Bettiol and the biocontrol market in Brazil
- Las propiedades que hacen del Trichoderma un socio clave en la búsqueda de mejores desempeños en los cultivos
- Changes in the new regulation on fertilizers and biostimulants in Chile
- Innovak Global, the expansion of root specialists
Market movers
- Renewable-based nitrogen fertilizer firm raises US$ 20 million in investment round
- Bayer and Ginkgo Bioworks close agreement to strengthen open innovation platform for agricultural biologics
- Argentinean firm Puna Bio: Millions raised to study superbacteria for agricultural use
- Corteva Agriscience signed an agreement to acquire leading biologics company Symborg
- Brazilian study uncovers ants' potential in crop protection
- Huber acquires specialty plant nutrition producer Biolchim
- UPL announces agreement to distribute bioprotector based on orange oil
- ICL and Lavie Bio start strategic collaboration to develop new biostimulants
- Hortitool and Green Smile to organize the Morocco Berry Conference 2022
Bioceres completes acquisition of Marrone Bio to create a bioinputs giant
Bioceres Crop Solutions Corp., an Argentine crop solutions firm designed for zero carbon footprint agriculture, successfully completed the acquisition of US-based Marrone Bio Innovations, Inc (MBI). This merger will allow both companies to form a bioinputs giant for the agricultural sector with US $300 million in revenues, as announced last March.
At the time, the companies noted that the transaction "will combine Bioceres' expertise in bionutrition and seed care products with Marrone Bio Innovations' leadership in the development of biological solutions for crop protection and plant health." The companies operate together in 46 countries with approximately 640 employees, including two manufacturing and R&D facilities on their properties located in Davis, California, and Rosario, Argentina.
The merger was approved by the shareholders of MBI at an extraordinary meeting, where the holders of 127,130,867 shares were present virtually or by proxy, constituting a quorum of 69.7%. The adoption of the Merger Agreement was approved with 99.74% of the votes.
Bajo los términos de la transacción, cada acción ordinaria de MBI se intercambió al cierre por acciones ordinarias de Bioceres a una relación de intercambio fija de 0,088, lo que representa un valor de aproximadamente US$207 millones, basado en los precios de las acciones de Bioceres y MBI al cierre del mercado el 11 de julio de 2022, y el número de acciones actuales de MBI en circulación. Las acciones de Bioceres recién emitidas comenzarán a cotizar en el Nasdaq Global Select Market bajo el símbolo “BIOX”.
“La finalización de esta transacción representa un hito importante en nuestro camino, consolidando nuestro liderazgo en el desarrollo y comercialización de soluciones agrícolas sostenibles”, dijo el director ejecutivo de Bioceres, Federico Trucco. “MBI aporta 15 años de experiencia en el desarrollo de soluciones biológicas, y estamos entusiasmados de agregar la línea de productos única de MBI y su pipeline a Bioceres, un ajuste perfecto a nuestra propia cartera”, agregó.
MBI continuará operando sus líneas de negocio y productos existentes bajo el nombre de ProFarm como una subsidiaria de propiedad total de Bioceres. La sede central de Carolina del Norte dejará de existir y las funciones corporativas y de apoyo al negocio serán asumidas por Bioceres. “La estructura resultante aprovechará la experiencia de los empleados clave de ProFarm, logrando una organización más diversa, global y rentable, con operaciones en Estados Unidos, Europa y América Latina”, señaló el director financiero de Bioceres, Enrique López Lecube.
As a result of the closing of the transaction, Bioceres announced changes to its board of directors and leadership team. Mr. Yogesh Mago and Mr. Keith McGovern, who served on the MBI board of directors until the closing of the transaction, will join the Bioceres board of directors, bringing their experience and expertise to the Bioceres business.
It was also announced that Mr. Kevin Helash will step down as CEO of MBI and Mr. Matti Tiainen will join the Bioceres leadership team as President of ProFarm and CEO for North America and Europe.
“Estoy entusiasmado con las oportunidades para nuestros empleados y los nuevos colegas de MBI a los que damos la bienvenida a la empresa”, expresó Federico Trucco. “Junto con nuestros actuales y nuevos accionistas trabajaremos para transformar el panorama agrícola con soluciones de bajo impacto ambiental, altamente eficaces y de base biológica que impulsen nuestra visión de una agricultura neutra en carbono.”
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SUBSCRIBE TO OUR NEWSLETTER
Suscríbete a nuestro newsletter
Last issue articles
- Biome: the space gaining protagonism in biological strategies for crops
- The export dynamics driving the Mexican biologicals market
- New model developed to evaluate effects of two or more biostimulants combined in a single crop
- Dr. Wagner Bettiol and the biocontrol market in Brazil
- Las propiedades que hacen del Trichoderma un socio clave en la búsqueda de mejores desempeños en los cultivos
- Changes in the new regulation on fertilizers and biostimulants in Chile
- nnovak Global, la expansión de los especialistas en la raíz
Market movers
- Argentinean firm Puna Bio: Millions raised to study superbacteria for agricultural use
- Corteva Agriscience signed an agreement to acquire leading biologics company Symborg
- Brazilian study uncovers ants' potential in crop protection
- Huber acquires specialty plant nutrition producer Biolchim
- UPL announces agreement to distribute bioprotector based on orange oil
- ICL and Lavie Bio start strategic collaboration to develop new biostimulants
- Hortitool and Green Smile to organize the Morocco Berry Conference 2022
About us
Biologicals Latam es una revista digital de Redagrícola que informa de manera especializada sobre la intensa actividad que se está desarrollando en el espacio de los bioinsumos para la producción agrícola. Esta publicación es complemento del Curso Online de Bioestimulantes y Biocontrol y las conferencias que este grupo de medios realiza en torno al tema.