Corteva to acquire Stoller Group for $1.2B

Corteva and Stoller Group announced that Corteva has signed a definitive agreement to acquire Houston-based Stoller, one of the largest independent Biologicals companies in the industry. With operations and sales in more than 60 countries and 2022 forecasted revenues of more than $400M, Stoller brings immediate scale and profitability, with EBITDA margins that will be accretive to Corteva. The acquisition of Stoller reinforces Corteva’s commitment to providing farmers with Biological tools that complement evolving farming practices and help them meet changing market expectations. The Stoller purchase price of $1.2B in cash represents an enterprise value multiple of approximately 12x based on Stoller’s expected EBITDA for 2022 on a stand-alone basis. The purchase price will be paid at closing, which is anticipated to be completed in the first half of 2023 following regulatory approvals and satisfaction of customary closing conditions. The Company expects that Stoller results will be accretive to both Operating EBITDA and Operating EPS for 2023.