US conglomerate J.M. Huber Corp., Atlanta, announced on Aug. 8 that it has signed a binding agreement to acquire full control of the Biolchim Group from two investment firms – NB Renaissance and Chequers Capital – as well as the Biolchim Group management team. Founded in 1972, Italy-based Biolchim is a producer and distributor of specialty plant nutrition products and biostimulants.
All the companies in Biolchim – including Biolchim SpA, Cifo, Ilsa SpA, Matécsa Kft, and West Coast Marine-Bio Processing Corp. – are within the scope of the purchase. Biolchim operates eight production plants globally, and its products – biostimulants, trace elements, and water soluble, liquid, and foliar fertilizers – are present in over 70 countries.
Upon close of the sale, Biolchim will become part of Huber Engineered Materials (HEM), a company within the Huber portfolio of businesses. Biolchim will be a key part of the strategic foundation of the Huber AgroSolutions (HAS) business unit of HEM, which currently includes Miller Chemical & Fertilizer (Miller), Hanover, Pa., which Huber acquired in 2019 (GM April 4, 2019; March 8, 2019). Miller, founded in 1937, manufactures and distributes crop protection and nutritional agrichemical products to more than 90 countries.
“I am excited and energized about this opportunity to combine two successful businesses, Miller and the Biolchim Group,” said David Riley, Senior Vice President and General Manager of HAS. “I am also thankful to Mr. Valenti for his leadership and support as we transition the Biolchim Group and Miller to the next phase of growth.”
Biolchim has been managed and headed by Galileo Quattro SARL. Leonardo Valenti, CEO of Biolchim since 2008, will remain committed to lead Biolchim through the next phase of growth and the integration, leveraging the synergy potential of the strategic combination of both entities.
HAS’ vision is to become a leading formulator of sustainable, high-performing agricultural products globally, and Huber said the Biolchim acquisition significantly helps meet that goal. Huber said the complementary sales footprint of both companies will enable expanded customer and product access into key agricultural regions globally.
HAS plans to advance the sales of Biolchim’s products through its relationships with US-based growers and its complementary distribution network in Latin America and select countries in Europe, the Middle East, and Africa, while Biolchim’s sales channels will advance various Miller products via its strength in Europe and its global subsidiary network.
Closing of the sale, anticipated to occur by the end of 2022, is subject to customary closing conditions, including the foreign direct investment approval in Italy.
Founded in 1883, family-owned Huber operates as a portfolio management company, with assets including HEM, CP Kelco, Huber Engineered Woods, and Huber Resources Corp. Businesses include specialty chemicals, minerals, hydrocolloids, engineered woods, and timber management.
Huber said it is a diversified, multinational company that creates products that are used in a broad range of consumer and industrial applications, including fire retardant additives and smoke suppressants, personal care, food, beverage, pharmaceuticals, and building materials.