BASF just got bigger
As of August 1, BASF has officially acquired a selection of Bayer assets, expanding the company’s portfolio of agricultural solutions. Shortly after the transaction was finalized, Paul Rea, BASF Senior Vice President, North America Agricultural Solutions, and Scott Kay, Vice President of U.S. Agricultural Solutions, discussed the exciting expansion of the BASF family.
What was acquired?
BASF has acquired a number of Bayer products all of which are highly complementary to BASF’s existing portfolio. The new products include:
On top of adding new herbicides and seed treatments, BASF will be entering the seed market for the first time. This endeavor into a new market will be a great opportunity for BASF, as they continue to provide growers with helpful agricultural solutions.
“The acquired assets significantly increase our portfolio globally and also here in North
America across all key indications of seed, chemistry and digital solutions,” said Rea. “These products will provide a foundation for the company to expand and grow its new seed portfolio in the long term.”
BASF is also acquiring far more than products. In addition to the portfolio, the acquisition includes five chemical production and formulation sites. Furthermore, the company will welcome 1,600 Bayer employees to its North American operation, all of whom will be critical to a successful transition and the long-term growth of the portfolio.
“We obviously see tremendous growth and an opportunity to expand this franchise through our long-term commitment to innovation, research and development,” said Rea. “We want farmers to have the right technologies for decades to come.”
What does this mean for growers?
Many of them are likely wondering what this change will mean for their business. Innovation remains a key driver in BASF’s commitment to meeting the needs of its customers. Now more than ever, BASF will be able to fully deliver on that commitment.
“The closing of the transaction means we can provide farmers with a balanced offering that gives them a real choice in a consolidating and changing industry,” said Kay.
The assets acquired will enable BASF to develop a more attractive and comprehensive portfolio that will help growers to maximize both their yields and their profits. BASF will also take ownership of Bayer’s digital farming applications, allowing the company to provide growers exceptional economic support and assistance.
While the options available to growers may be changing, Kay emphasized that BASF’s market strategy has not.
“We will continue to help farmers grow smart with a personalized customer experience from BASF,” said Kay. “These assets that we’re taking on will enable us to find a new way to meet the needs of farmers and deliver more tools to fight their biggest challenges today and in the future.”
What happens next?
BASF has established an integration team that is already at work to ensure a smooth transition for the company’s newest employees and the products being added to the BASF portfolio. Their work will continue into the coming months and will ensure that BASF remains a valuable partner in innovation and business that growers can rely on.
To learn more about the acquisition, visit www.agriculture.basf.com/grow-with-us.
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About BASF’s Agricultural Solutions division
With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. Working with farmers, agricultural professionals, pest management experts and others, it is our role to help make this possible. That’s why we invest in a strong R&D pipeline and broad portfolio, including seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. With expert teams in the lab, field, office and in production, we connect innovative thinking and down-to-earth action to create real world ideas that work – for farmers, society and the planet. In 2017, our division generated sales of €5.7 billion. For more information, please visit www.agriculture.basf.com or any of our social media channels.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of €64.5 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.