DuPont divests crop protection business, acquires FMC Health and Nutrition
FMC and DuPont have signed a definitive agreement for FMC to acquire the portion of DuPont’s crop protection business it must divest to comply with the European Commission ruling related to its merger with Dow Chemical.
FMC and DuPont have signed a definitive agreement for FMC to acquire the portion of DuPont’s crop protection business it must divest to comply with the European Commission ruling related to its merger with Dow Chemical. Additionally, DuPont will acquire FMC Health and Nutrition and receive $1.2 billion in cash.
FMC will acquire DuPont’s global chewing pest insecticide portfolio, its global cereal broadleaf herbicides, and a substantial portion of DuPont’s global crop protection R&D capabilities. After closing of the acquisition, FMC Agricultural Solutions will become the fifth largest crop protection chemical company in the world by revenue, with estimated annual revenue of approximately $3.8 billion.
The underlying intellectual property related to the acquired products, including patents, registrations, and data packages, will be transferred to FMC. FMC will acquire a global manufacturing network to fully support these products, including four active ingredient manufacturing facilities and 10 regional formulation plants.
At the same time, FMC Health and Nutrition will become part of DuPont’s Nutrition & Health segment. “FMC Health and Nutrition is a highly profitable business with leading positions across the vast majority of its portfolio, deep applications knowledge, and an extensive global network of laboratories and manufacturing facilities. It is a very complementary fit with DuPont’s current portfolio. We are confident it will thrive under DuPont’s leadership and will contribute to their successful nutrition and health business,” said Pierre Brondeau, FMC president, CEO, and chairman.