ADAMA Ltd. has today announced that it has signed an agreement to acquire the French-Swiss crop protection company, SFP.
Based in Aix-en-Provence, France and in Sion, Switzerland, SFP was founded in 1987 and has developed a number of focused product positions within the $375 million European plant growth regulator and fungicide markets.
“SFP has an attractive portfolio of straight and differentiated mixture products that it markets in France and other key European countries,” explains Alison Bosher, Marketing and Technical Director for ADAMA in the UK. “Among its most significant active ingredients are the plant growth regulators, ethephon and chlormequat chloride, and the fungicides, prochloraz and cymoxanil, as well as interesting mixtures of each of these AIs.
“The combination of these products, which are highly complementary to ADAMA’s existing portfolio, together with our strong commercial network, bolsters our potential for future growth. In addition, some of the active ingredients in SFP’s products are also manufactured by ADAMA, enabling the combined businesses to benefit from the production efficiencies, quality assurance and traceability provided by backward integration.”
The transaction will be ADAMA’s second acquisition in Europe this year, underlining its commitment to further enhancing its business in this important market. The deal is subject to customary closing conditions which are expected to be finalised within the coming weeks.