Croda International, a speciality chemical manufacturer, is to acquire Incotext Group BV, an independent seed enhancement business headquartered in the Netherlands for a total consideration, inclusive of debt, of £109 million.
Operating in one of the fastest growing segments within the crop care market, Incotec has developed and supplied a wide range of proprietary and sustainable technologies for both vegetable seeds and fields crops since 1968. Their products and services help to enhance and improve seed performance.
Seed enhancement has been identified as a key market opportunity for Crada’s Crop Care business. Through this acquisition, a broader, more innovative portfolio of products will be available to customers through an enlarged and enriched global research and technical capability. Supported by further investment from Croda, the Incotex business will retain its independent identity and strong bran in offering priming, disinfecting, film coating, encrusting and pelleting expertise and providing analytical quality testing.
The acquisition is expected to complete on 4 December 2015.