- Stoller porta un fatturato globale di + $ 400 milioni e una presenza in oltre 60 paesi
- Rafforza l'impegno a promuovere il valore per gli agricoltori attraverso soluzioni innovative e sostenibili
- Seconda transazione biologica di Corteva dal completamento delle revisioni strategiche del portafoglio
INDIANAPOLIS e HOUSTON, 30 novembre 2022 — Corteva, Inc. (NYSE: CTVA) e Stoller Group, Inc. ("Stoller") hanno annunciato oggi che Corteva ha firmato un accordo definitivo per l'acquisizione di Stoller, con sede a Houston, uno dei più grandi Azienda biologica del settore. Con operazioni e vendite in più di 60 paesi e ricavi previsti per il 2022 superiori a 400 milioni di dollari, Stoller porta dimensioni e redditività immediate, con margini EBITDA che aumenteranno per Corteva.
L'acquisizione di Stoller rafforza l'impegno di Corteva nel fornire agli agricoltori strumenti biologici che integrano le pratiche agricole in evoluzione e li aiutano a soddisfare le mutevoli aspettative del mercato. La reputazione superiore di Stoller per le relazioni con gli agricoltori e la creazione della domanda è incentrata su un modello commerciale basato sulla condivisione delle conoscenze con il canale e gli agricoltori. Stoller ha avuto successo dimostrando l'eccellenza tecnica e offrendo vantaggi e valore delle soluzioni integrate sul campo.
“I prodotti biologici forniscono agli agricoltori strumenti sostenibili che completano le tecnologie di protezione delle colture e, collettivamente, possono lavorare per affrontare le sfide globali relative alla sicurezza alimentare e al cambiamento climatico. Stoller rappresenta un leader nel settore dei prodotti biologici data la sua presenza commerciale e il potenziale di espansione del mercato, offrendo al contempo una crescita interessante e margini operativi", ha affermato Chuck Magro, amministratore delegato.
“In combination with Corteva’s leading innovation organization, Stoller provides a platform for expanding and accelerating Corteva’s Biologicals business to become one of the largest players in the rapidly expanding Biologicals market.”
Si prevede che il mercato dei prodotti biologici crescerà a una cifra ogni anno fino al 2035, rappresentando circa il 25% del mercato complessivo della protezione delle colture entro il 2035. In soli tre anni, Corteva ha sviluppato un'attività di livello mondiale nel settore dei prodotti biologici implementando strategie intelligenti e agili basate su fattori esterni e innovazione interna, collaborazioni in ricerca e sviluppo, accordi di licenza e distribuzione e acquisizioni.
« Au cours des plus de 50 ans d'histoire de Stoller, nous avons aidé avec succès des producteurs du monde entier à augmenter leur productivité et à améliorer leur durabilité. Nous sommes fiers d'unir nos forces à celles de Corteva, car nous partageons la vision d'aider les agriculteurs à réussir à cultiver les aliments nutritifs dont dépend le monde », a déclaré Guillermo de la Borda, président-directeur général de Stoller.lly jusqu'en 2035, représentant environ 25 % du total. marché de la protection des cultures d'ici 2035. En seulement trois ans, Corteva a développé une activité Biologicals de classe mondiale en mettant en œuvre des stratégies intelligentes et agiles construites autour de l'innovation externe et interne, des collaborations en R&D, des accords de licence et de distribution et des acquisitions.
“This announcement is a true testament to the incredible success and dedication of our teams across the globe who have helped us become one of the most trusted biostimulant and plant health companies in the world. Our innovative solutions and deep expertise will continue to make an impact for years to come.”
Stoller is the second Biologicals acquisition for Corteva this year, as the company recently announced it signed a definitive agreement to acquire Symborg, an expert in microbiological technologies based in Murcia, Spain. Corteva will bring together the complementary commercial and technical strengths of Stoller and Symborg as part of its Biologicals strategy.
The Stoller purchase price of $1.2 billion in cash represents an enterprise value multiple of approximately 12x based on Stoller’s expected EBITDA for 2022 on a stand-alone basis. The purchase price will be paid at closing, which is anticipated to be completed in the first half of 2023 following regulatory approvals and satisfaction of customary closing conditions. The Company expects that Stoller results will be accretive to both Operating EBITDA and Operating EPS for 2023.
The Company will host a live webcast on Monday, Dec. 5, from 11:00 a.m. to 11:30 a.m. EST to discuss additional details regarding the transaction and the Company’s overall Biologicals strategy.
This presentation will be webcast. Registration is available on the Events and Presentations Page of the Corteva Investor Relations website. A replay will also be available on the Investor Events and Presentations page until Dec. 5, 2023.
Evercore is serving as the financial advisor to Corteva. J.P. Morgan Securities LLC is serving as lead financial advisor and Piper Sandler is serving as financial advisor to Stoller Group. Latham & Watkins served as legal advisor to Stoller.
A proposito di Stoller
Stoller is a multinational plant-science company whose vision is to deliver solutions that empower customers’ sustainability. Stoller helps growers around the world succeed with science-proven offerings that include physiological-signaling compounds, such as plant hormones, high-technology nutrients, and microorganisms that can be used alone or in combination to improve plant efficiency and promote plant resilience to stress. For more than 50 years, Stoller has blended its innovative, quality solutions with its deep-rooted knowledge in plant physiology, so plants can maximize their genetic potential, increasing yield and profit for progressive growers. For more information, visit stolleragro.com.
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Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates,” “outlook,” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about completion of this transaction and Corteva’s financial results or outlook; strategy for growth; product development; regulatory approvals; market position; capital allocation strategy; liquidity; environmental, social and governance (“ESG”) targets and initiatives; and the anticipated benefits of acquisitions restructuring actions, or cost savings initiatives are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements and other estimates also involve risks and uncertainties, many of which are beyond Corteva’s control. While the list of factors presented below is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva’s business, results of operations and financial condition. With respect to the contemplated transactions, forward-looking statements include, without limitation, financial estimates, statements as to the completion and benefits or effects of the transactions, including financial and operating results, the combined company’s plans, objectives, expectations and intentions, and other statements that are not historical facts. The following risks, uncertainties and other factors could affect the company’s financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements: the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement for these transactions; the risk that the necessary regulatory approvals may not be obtained as a result of conditions that are not anticipated; risks that any of the closing conditions to the transaction[s] may not be satisfied in a timely manner; the failure to realize the benefits of the transactions or Corteva’s biologicals strategy; the effect of the announcement of the transactions on the ability of Symborg and Stoller to retain customers and key personnel and to maintain relationships with suppliers, and on their operating results and business generally; and potential litigation in connection with the transactions.
Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the “Risk Factors” section of Corteva’s Annual Report on Form 10-K, as modified by subsequent Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K.
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