BASF Will Acquire Biopesticide Firm

BASF will buy agriculture firm Becker Underwood for $1.0 billion from its private equity owner, Norwest Equity Partners. Based in Ames, Iowa, Becker produces biological seed treatments and seed treatment colors and polymers. It also offers biological pesticides, animal nutrition products, and landscape colorants and coatings. BASF expects Becker to achieve $240 million in sales in its current fiscal year. The company has 10 production sites worldwide and employs 479 workers. BASF says the acquisition will help it expand in the growing seed treatment market.