Yuma, Arizona, USA
August 2, 2013
Gowan Group and Isagro S.p.A. today announced a partnership to marry Isagro’s research and discovery capability with Gowan’s field development and face to market. The partnership is grounded in an investment by Gowan in a new company which will own a majority of Isagro shares. There is no change in control in Isagro; this continues with Piemme S.r.L.
In the short and medium term, Gowan USA and Gowan Italia will assume distribution for some of Isagro’s proprietary products. The two partners participate equally in a business steering committee to identify business opportunities and consequent synergies for both companies. A number of active ingredients and technology collaboration are on the agenda now.
“This agreement” – Giorgio Basile, President and C.E.O. of Isagro commented – “reinforces and projects in the long term Isagro’s industrial project, also thanks to a strengthening in its financial structure. At this stage, we can measure only part of mid-long term synergies, with significant additional upsides still to be seized. Fully identified synergies will offset (in the medium term) potential short-term negative effects related to the termination, partial or total, of other distribution agreements with third parties that Isagro might face in the short term as a consequence of the agreement.”
Juli Jessen, Gowan Group CEO, says, “The alliance joins Isagro’s highly productive research with Gowan’s muddy boots and market-facing cachet. One party comes from scientific creativity in the lab. The other started in the field and grew upstream. A deep partnership will bring the best in deep communication between these perspectives. Together we expect to bring new products and value to agriculture.”
Isagro S.p.A. is the holding company of a group which, in twenty years, has become a qualified operator in the agrochemicals business, with global sales of € 150 million and 620 employees worldwide. Listed on the Italian Stock Exchange since 2003, Isagro is active in the innovative research, development, production and marketing, on a worldwide scale, of proprietary agrochemicals, as well as in their distribution in some key markets.
Gowan Group is a 50 year old family company based in Yuma, Arizona. Together with its affiliates, Gowan develops, registers and markets conventional and biorational pest control products in many countries. We specialize in challenging niche pest problems for growers. Our original retail roots continue to prosper and keep us grounded.
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