On Wednesday chemical company BASF completed its acquisition of Ames-based seed treatment company Becker Underwood for $1.02 billion. Becker Underwood began business in 1982 with sales of Spray Tracer, a specialty dye.
Most aspects of Becker Underwood will fall under BASF’s Functional Crop Care unit, a segment of its Crop Protection division which comes online January 1. However Becker Underwood’s animal nutrition business will be integrated into BASF’s Nutrition & Health division.
Current CEO of Becker Underwood Dr. Peter Innes will serve as Global Senior Advisor to the Crop Protection division; he will support the integration of Becker Underwood into BASF as well as the implementation of the Functional Crop Care unit.
In 2011, BASF’s Crop Protection division reported sales of around $5.4 billion and expects similar sales this year.