Syngenta has acquired the biologicals company Valagro with the motive to increase its sustainable farming line. The purchase of the Atessa, Italy company, whose slogan is “Where Science meets Nature,” is a continued effort by Syngenta to earn a larger space in the sustainable practices field.
Erik Fyrwald, CEO of Syngenta Group said, “This Acquisition underlines our growth ambitions in this area and positions us as one of the strongest players in the global market.” He also mentioned that, “This investment also forms part of our $2 billion commitment to help farmers address the effects of climate change and improve agricultural sustainability as part of our Good Growth Plan.”
Jon Parr, President Global Crop Protection at Syngenta said, “Significant levels of investment in innovations such as Biologicals are necessary in order to deliver a sustainable future and help farmers deliver a food system working in harmony with nature.”
He also stated that, “By fostering the entrepreneurial spirit and culture of Valagro, powered by our global scale and capability, together we will shape the future of the agricultural Biologicals market.”
As per the information from Syngenta’s website, it is working toward a partnership with The Nature Conservancy with the motive of environmental progress, improvement in soil health, resource efficiency and habitat protection in major agricultural regions worldwide. Also, they are working toward a pledge to decrease their carbon footprint in half by 2030.
Valagro is the 40-year-old company, and Syngenta group entered into a partnership with that in 2017 to supply its bio-stimulants. According to Markets and Markets Research, the global agricultural biologicals market size was estimated to account for a value of $8.8 billion last year and is projected to grow at a compound annual growth rate (CAGR) of 13.6% to reach a value of $18.9 billion within the next five years.
Valagro had an approximate 10% CAGR from 2009-2019 and had an approximate revenue of $175 million in 2019.
Source- Forbes
