Indianapolis, IN and Murcia, Spain (September 22, 2022) — Corteva, Inc. (NYSE: CTVA) and Symborg announced that Corteva has signed a definitive agreement to acquire Symborg, an expert in microbiological technologies based in Murcia, Spain.
Respected throughout the biologicals industry, Symborg possesses a diversified existing portfolio, an emerging biocontrol pipeline, and a skilled employee base with robust technical knowledge and demand generation expertise.
“Acquiring Symborg is a significant next step in Corteva’s strategy to accelerate the development of a best-in-class biologicals portfolio, as a valuable part of our integrated solutions we offer to our customers,” said Robert King, Executive Vice President, Crop Protection Business Unit, Corteva Agriscience. “Over the past three years, Corteva has established licensing and distribution agreements with the top biological companies, which we selected after evaluating technologies and demonstrating customer acceptance. This acquisition shows Corteva’s progression towards further establishing itself as a technology leader in this rapid growth segment.”
Corteva first collaborated with Symborg to scale up and bring farmers Utrisha™ N and BlueN™ nutrient efficiency optimizer as part of a distribution agreement between the two companies. The innovative, natural-origin biostimulant enables plants to fix nitrogen from the air and make it available to the plant, providing an alternative, supplemental nitrogen source and potentially reducing greenhouse gas emissions from fertilizer use.
This transaction continues Corteva’s commitment to build a more differentiated and sustainably advantaged portfolio that provides cost-effective solutions for farmers. Corteva will leverage the combined organizations to scale up Symborg’s current solutions, as well as new products in development.
"Supporting farmers worldwide with our cutting-edge biobased solutions has always been the Symborg motto,” said Jesús Juárez, founding partner and CEO at Symborg. “That spirit together with a highly skilled team, led us to become a key player towards sustainable agriculture. The integration with Corteva is an opportunity to reinforce our impact in the field helping farmers facing current and future challenges. And beyond, it is an opportunity to become the answer to safe and sustainable food that society is demanding. Symborg and Corteva share values and market vision, becoming the perfect match to design the future of agriculture."
Closing of the acquisition is subject to customary closing conditions. Following the close, Symborg locations in Murcia, Spain and subsidiaries in the United States, Mexico, Peru, Chile, Brazil, France, Turkey, China, and Australia will become key elements of Corteva’s Biologicals Portfolio.
Financial terms and conditions of the agreement were not disclosed.
Roth Capital Partners, LLC acted as exclusive financial advisor to Symborg, DelSaz Abogados and Mr. Javier Maceira Suárez acted as legal counsel to Symborg and Tarabini-Castellani as advisor for Symborg founding partners.
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world’s most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the Company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Symborg is a biobased products company in the agricultural sector that help farmers to maximize crop yields with minimum resources, contributing to a more sustainable agriculture. Symborg develops, manufactures and markets innovative biostimulants and biofertilizers for all types of crops and agricultural systems, increasing nutrient use efficiency, improving crop strengthening, crop’s physiological activity and tolerance to stress, thus optimizing and increasing its harvest potential and fruit quality. Due to its significant commitment to research development and innovation, Symborg has established itself as a leading agribusiness company delivering biological solutions. It currently has offices in Spain and Portugal, France, the USA, Brazil, Mexico, Chile, Peru, Turkey China, and Australia.