BASF will acquire Becker Underwood, which provides technology that treats biological seeds, for $1.02 billion.
Ames, Iowa-based Becker Underwood also provides biological crop protection, turf, horticulture, animal-nutrition and landscape products. Becker Underwood is currently owned by private equity firm Norwest Equity Partners.
BASF, headquartered in Ludwigshafen, Germany, makes chemicals for the aerospace, agriculture, personal care, pharmaceutical, and other industries.
Minneapolis and New York-based Norwest Equity Partners’ portfolio includes Roundry’s, Minnesota Rubber & Plastics and GoHealth.
Skadden Arps Slate Meagher & Flom LLP is representing Becker Underwood on the deal.