Nufarm Announces Completion of Acquisition of Adama Product Portfolio

Nufarm Limited (“Nufarm”) announced that overnight Australian time, after receipt of the remaining regulatory approvals and satisfaction of the remaining conditions, it has completed the Adama component of the acquisition of the Century portfolio of products and assets. Nufarm anticipates that the completion of the acquisition of the Syngenta component of the Century portfolio will take place in the next few days. The ‘Century’ product portfolio includes established brands with over 50 crop protection formulations and more than 260 registrations for use in European markets. The portfolio has been divested by Adama and Syngenta to meet the European Commission’s requirements relating to the acquisition of Syngenta by ChemChina. The portfolio includes herbicides, fungicides, insecticides, seed treatments and plant growth regulators which are sold in 29 European markets. Nufarm has acquired the portfolio for a cash consideration of US$490 million, plus approximately US$25 million for inventory. In the first full year of Nufarm ownership (FY19), the portfolio is expected to generate revenue of approximately A$250 million and contribute EBITDA of approximately A$95 to $100 million. With purchases for the European spring season largely complete, and the status of channel inventories unclear until after closing, Nufarm anticipates a minimal EBIT contribution from the newly acquired product portfolio in the 2018 financial year, which is largely in line with our original expectations


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