Bioceres acquires a majority interest in Rizobacter
Pergamino, Argentina (19 October 2016) – To further develop and internationalize its business, Bioceres – an Argentina-based agricultural technology company – announced today it acquired 50.01% of the shares of Rizobacter, a global leader in soybean biological products.
“The participation of Bioceres in Rizobacter is great news for our company,” stated Ricardo Yapur, Rizobacter’s CEO. “Without doubt, both companies have complementary capabilities which we aspire to integrate to stay at the forefront of technological innovations for the agricultural sector,” further added Yapur.
“Rizobacter has an established platform of both biological and chemical solutions for crop nutrition and protection, which constitutes a unique complement to Bioceres’ seed biotechnologies,” added Federico Trucco, Bioceres’ CEO. “We have started our collaboration with Rizobacter back in 2014, with the understanding that superior products for farmers and clients require an integrated technologies’ approach – this acquisition shows our conviction in this thesis.”
Rizobacter is the global leader in soybean seed inoculants, with about a 20% market share in the space. The company reported over US$90M in revenues for the 12-month period ending in June 30, with products sold in more than 30 countries.
Bioceres is a fully integrated agricultural biotechnology company utilizing multiple technology platforms to develop and commercialize products that enhance crop productivity and expand feedstock applications. The company is owned by more than 250 of South America’s largest growers. Bioceres is a major shareholder of INDEAR (Institute of Agricultural Biotechnology of Rosario) and Bioceres Semillas, a partner in international joint ventures Verdeca and Trigall Genetics, and a lead investor in multiple biotech start-ups.