Gowan and Isagro form partnership
Gowan Group and Isagro S.p.A. 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 CEO 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.”