BASF to acquire Becker Underwood
BASF is to acquire the US specialty products company, Becker Underwood (Ames, Iowa), for $1,020 million. The US company supplies biopesticides and provides technologies and products for biological seed treatment and seed coating colours and polymers. It has ten production sites globally and 479 employees. It expects sales of $240 million in its fiscal 2012 ending on September 30th. BASF agreed the deal with Becker Underwood’s parent company Norwest Equity Partners. The purchase is subject to regulatory approval and the transaction is expected to be completed by the end of the year.