Reuters – Norwest Exits Becker Underwood


The world’s largest chemicals maker BASF SE agreed to take over U.S. crop protection company Becker Underwood from buyout firm Norwest Equity Partners for $1.02 billion to boost its farming pesticides division, Reuters reported Thursday. Becker Underwood — which expects sales of $240 million in 2012 — is a global provider of seed treatments, biological crop protection products, gardening products and animal nutrition, BASF said on Thursday.

 

(Reuters) – The world’s largest chemicals maker BASF SE agreed to take over U.S. crop protection company Becker Underwood from buyout firm Norwest Equity Partners for $1.02 billion to boost its farming pesticides division.

 

Becker Underwood — which expects sales of $240 million in 2012 — is a global provider of seed treatments, biological crop protection products, gardening products and animal nutrition, BASF said on Thursday.

 

The purchase is subject to regulatory approval and closing of the transaction is expected by the end of 2012, BASF added. (Reporting by Ludwig Burger)