BASF Completes Acquisition of Becker Underwood

BASF Completes Acquisition of Becker Underwood 
LUDWIGSHAFEN, GERMANY -- (Marketwire) -- 11/28/12 -- 


 
--  New global business unit Functional Crop Care established
--  Integration plans will be developed jointly
--  Biological seed treatment solutions complement BASF's crop protection
    portfolio

  
BASF has completed the acquisition of Becker Underwood from Norwest
Equity Partners, a U.S.-based private equity investment company, for
a purchase price of US$1.02 billion (EUR 785 million). With the
acquisition, BASF is now a leading global provider of technologies
for biological seed treatment as well as seed treatment colorants and
polymers. BASF has also expanded its product portfolio in the areas
of biological crop protection, turf and horticulture, animal
nutrition and landscape colorants and coatings. 
"The acquisition fits very well with our long-term growth strategy.
It will provide our customers with an even broader range of
innovative solutions for agriculture. And it also provides our new
colleagues with access to BASF's global R&D platform as well as new
markets and customers," said Dr. Andreas Kreimeyer, member of BASF's
Board of Executive Directors, responsible for the Agricultural
Solutions segment and Research Executive Director.  
In the coming months, a detailed integration plan will be developed
by a joint team of BASF and Becker Underwood employees. Most
businesses of Becker Underwood will join the newly established global
business unit Functional Crop Care as part of BASF's Crop Protection
division. Within this new unit, BASF will merge its existing
research, development and marketing activities in the areas of seed
treatment, biological crop protection, plant health, as well as water
and resource management with those of Becker Underwood. Becker
Underwood's animal nutrition business will be integrated into BASF's
Nutrition & Health division.  
The newly formed global Functional Crop Care unit will become
effective January 1, 2013. It will be headed by Dr. Juergen Huff,
Senior Vice President. 
Dr. Peter Innes, currently CEO of Becker Underwood, has accepted the
position of Global Senior Advisor to the Crop Protection division. He
will support the integration of Becker Underwood into BASF and the
implementation of the Functional Crop Care unit.  
"Now we are focused on an integration which is as seamless as
possible for our customers and our employees," said Markus Heldt,
President of BASF's Crop Protection division. "Becker Underwood will
be a cornerstone of our Functional Crop Care unit and we are looking
forward to further developing our business together with our new
colleagues." 
In 2011, BASF's Crop Protection division reported sales of around EUR
4.2 billion and is expecting another record year in 2012. With its
products and services, BASF helps growers to improve their yields and
the quality of their products.  
About BASF  
BASF is the world's leading chemical company: The Chemical Company.
Its portfolio ranges from chemicals, plastics, performance products
and crop protection products to oil and gas. We combine economic
success, social responsibility and environmental protection. Through
science and innovation we enable our customers in almost all
industries to meet the current and future needs of society. Our
products and system solutions contribute to conserving resources,
ensuring healthy food and nutrition and helping to improve the
quality of life. We have summed up this contribution in our corporate
purpose: We create chemistry for a sustainable future. BASF posted
sales of about EUR 73.5 billion in 2011 and had more than 111,000
employees as of the end of the year. BASF shares are traded on the
stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
Further information on BASF is available on the Internet at
www.basf.com.  
Corporate Media Relations:
Gert Loedden
Phone: +49 621 60-20829
Fax: +49 621 60-92693
gert.loedden@basf.com  
Trade Press:
Katharina Fischer
Phone: +49 621 60-27034
Fax: +49 621 60 6627034
katharina.fischer@basf.com 
In North America:
Anne Burt
Phone: 1-919-547-2757
Mobile: 1-919-523-7415
anne.burt@basf.com 
 
 
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