Big Wins Abroad

Davis pesticide company Marrone Bio to buy Finnish agriculture firm in $31.8 million deal

Davis-based pesticide and soil treatment company Marrone Bio Innovations, Inc. is purchasing a Finnish agriculture technology company in a deal worth $31.8 million amid rising revenues.

In a news release, Marrone Bio said it was buying Pro Farm, which specializes in technology meant to promote crop growth, for a value of $31.8 million, including $6.2 million in cash and $12.7 million in stocks.

Newsletter sign up

This acquisition is an example of the kind of transformative investments that we seek to grow Marrone Bio from a product, crop and geographic perspective, and to do so in a way that can immediately accelerate our revenue growth and margin expansion,We believe acquisitions like Pro Farm will allow us to cost-effectively expand our global scale, and significantly escalate our growth trajectory.

Marrone Bio board chairman Bob Woods said in a prepared statement.

Acquiring Pro Farm will add nutrient and biostimulant seed-and-leaf treatment technology to Marrone Bio’s portfolio, which the company hopes will gradually increase its net incomes, according to the release.

Read More

Are you enjoying the article? Join our community for even more!


Click Here

Related posts

Marriott teams up with Kuwait Projects on St. Regis resort in Morocco


Uber looks to pick up Careem in $3 billion deal: sources

Camila Coutinho

UAE’s ADNOC seals $4 billion pipeline infrastructure deal with KKR, BlackRock

Camila Coutinho

Leave a Comment