Albaugh’s Rotam Buy Forms Global Crop Protection Leader
Crop protection producers Albaugh in the US and Rotam – headquartered in Hong Kong and listed on the Taiwan stock exchange – have agreed to merge, creating a global leader with sales exceeding $2 billion. Under the terms, Albaugh will pay roughly $197.5 million net of cash and debt for Rotam. The takeover will be executed between an entity in the Albaugh group and Rotam’s holding company.
Both companies’ boards have unanimously approved the transaction, which remains subject to the approval of Rotam’s general shareholders at a meeting scheduled for Feb. 8, 2022.
“With this acquisition, Albaugh becomes a broader, better balanced, and stronger resourced company. The business will become a truly global business with operations also in the China/Asia/Pacific region; new markets in the Americas and Europe, Middle East and Africa; and stronger positions in key existing Albaugh markets in USA, Argentina, Brazil and Mexico,” said Kurt Pedersen Kaalund, Albaugh Group CEO.
“The product portfolios,” he said, “are largely complementary with Albaugh having strong positions in proven core herbicides and Rotam having a highly differentiated portfolio with relatively higher share of insecticides and fungicides. The addition of manufacturing facilities in China and India, and strong competencies and resources in research and development will be key to the successful future development and growth of the business."
Headquartered in Ankeny, Iowa, Albaugh operates sites in St. Joseph, Missouri, USA; Pilar, San Nicolas and Rio Tercero in Argentina; Resende, Brazil; Chihuahua, Mexico; and Race, Slovenia.
Author: Elaine Burridge, Freelance Journalist
