Gowan Co., Yuma, Ariz., said last month it has entered into a binding agreement to purchase all shares of Piemme Srl from Giorgio Basile and the other shareholders, which will give Gowan control of Milan-based Isagro SpA, a provider of active ingredients for the crop protection and biopesticide industries. Piemme Srl is the controlling shareholder of Isagro. The transaction is Gowan’s first step in the integration of Isagro within Gowan and delisting Isagro.
“As a partner since 2013, Isagro has repeatedly impressed us,” said Gowan Group CEO Juli Jessen. “We look forward to expanding commercial opportunities and especially to integrating the manufacturing and the science depth at Isagro Group’s facilities. These additional competencies are instrumental in positioning Gowan as global agricultural practices evolve.”
“The complimentarity between Gowan and Isagro ensures the continuity of Isagro’s mission in the agro-pharmaceutical sector,” said Basile, Isagro Chairman. “Gowan is a historic partner of our group and I am sure it represents a great chance also for the several and qualified human resources within our group.”
Isagro, which was founded by Basile in 1993, is listed on the Italian Stock Exchange. It employs 350 and has a research center and four plants in Italy. It directly distributes to Italy, Brazil, Colombia, Spain, and the U.S., and its products are sold in over 70 countries. Consolidated revenues for 2019 were over €105 million.
Founded in 1962, the family-owned Gowan operates globally in the agricultural solutions business and is specialized in developing, marketing, and processing agricultural inputs such as crop protection products, seeds, and fertilizers.