Yuma, Arizona, USA
May 14, 2021
Gowan Company is pleased to announce the close of the agreement to purchase all the capital of Piemme S.r.l. from Giorgio Basile and other shareholders, representing 99.9% of the corporate capital in Piemme. Piemme S.r.l. is the indirect controlling shareholder of Isagro S.p.A. The transaction completed today is the first step in Gowan Company’s plan to purchase all of the shares of Isagro S.p.A.
Isagro is the owner of important active ingredients, including copper hydroxide/oxychloride, tetraconazole and kiralaxyl globally, and is well known for its research and development efforts in the crop protection and biopesticide industries. Isagro has been a partner of Gowan Company since 2013, and Gowan now looks forward to expanding commercial opportunities, especially integrating the manufacturing and science depth at Isagro Group’s facilities. These additional competencies are instrumental in positioning Gowan as global agricultural practices evolve.
Gowan plans to move forward consistent with Italian law to launch – through its entirely owned subsidiary, Crop Demetra Limited – a mandatory tender offer (MTO) to purchase all outstanding shares of Isagro. As Gowan and Isagro progress through the integration planning process, we plan to continue serving our customers and partners with the same level of focus and quality.
At the close of this transaction, Giorgio Basile, CEO, and founder of Isagro, has resigned from Isagro’s Board and from management of the company, along with three other directors nominated by his holding company. Gowan is pleased to announce that following these resignations, Isagro’s Board has voted to add Robert Sanchez, Lourdes Gonzalez, Thomas Flitsch, and Samantha Lawrence, all put forward by Gowan, to the Isagro Board of Directors.
Isagro’s Board has also now appointed Roberto Bonetti as Chairman and CEO of Isagro. Mr. Bonetti has over 18 years of experience working with Isagro in various roles, including Chief Operating Officer and membership on its Board of Directors. Mr. Bonetti has also served as Gowan’s Business Development Manager – Corporate Investments since 2017.
About Gowan Group
Gowan Group is a global, family-owned agriculture solutions business headquartered in Yuma, AZ, U.S.A. Gowan specializes in developing, marketing, and manufacturing global agriculture inputs such as crop protection products, seeds, and fertilizers. Gowan began in 1962 as a local crop consultancy business helping growers identify the right crop protection solutions to help their farms thrive. Today, Gowan has over 27 entities in 15 countries and sales in over 70 countries. Across the world, the Gowan Tribe strives to understand the needs of local markets and provide solutions to critical pest problems. Using sound science and the coordination of regulatory, marketing, and sales expertise, Gowan then brings products to market that are essential for growers.
About Isagro
Isagro S.p.A., an independent company born in 1993 with Montecatini/Montedison origin, is listed on the Milan Stock Exchange since 2003. Initially based on the discovery and development of new chemical molecules, the last one being Fluindapyr, the Company leads today a Group offering agricultural solutions at low environmental impact, with a growth project focused on biorationals as part of its new business model aimed also at capitalizing on the current product portfolio qualified for an integrated crop management.
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