Croda to help farm yields with £109m crop care acquisition

The Goole-based group has agreed to buy seed enhancement business Incotec for £109m.

The Dutch company develops and supplies a wide range of proprietary and sustainable technologies for both vegetable seeds and field crops and operates in one of the fastest-growing segments within the crop care market.

Seed enhancement has been identified as a key market opportunity for Croda’s crop care business and it hopes the acquisition will unleash the technical and formulation expertise of both parties.

Steve Foots, chief executive of Croda, said: “Incotec is a rare asset in a niche, high value, fast growing sector of the global crop market.

“With an experienced research and development led management team, Incotec brings differentiated market leading technologies, world class innovation and strong customer relationships.

“The combination with our own crop care business creates a strong and unique platform for future growth.

“We believe that our combined innovation strengths, together with our global sales reach, will enable us to be far more responsive in meeting the unmet needs of our customers today and tomorrow.”

Incotec’s products and services help to enhance and improve seed performance, allowing greater efficacy and functionality to be delivered directly by the seed.

The company was founded in 1968 and had revenues of 71m euros at the year ending September 2015.