ZURICH, Oct 6 (Reuters) - Syngenta, the Swiss agrichemicals giant owned by ChemChina, has acquired Italian biologicals group Valagro, a company with $175 million in 2019 sales that uses natural solutions to fight pests and diseases and to improve crops.
Syngenta said in a statement on Tuesday the acquisition positioned its Crop Protection business as a key player in the biologics sector, which was set to double over the next five years. It gave no financial terms of the buyout.
Valagro serves customers around the world, with a strong presence in Europe and North America and a growing footprint in Asia and Latin America, Syngenta said. Valagro has more than 700 employees, 13 subsidiaries and eight production sites. (Reporting by Oliver Hirt, Writing by Michael Shields; editing by Uttaresh.V)