Croda Acquires Innovative Seed Enhancement Company Incotec

December 2015

Incotec Acquisition Presentation

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Croda International Plc, a speciality chemical manufacturer behind some of the biggest, most successful brands in the world today announces that it has agreed to acquire Incotec Group BV, an independent innovative seed enhancement business headquartered in The Netherlands, for a total consideration, inclusive of debt, of €155 million (£109m). The acquisition is expected to complete on 4 December 2015.

Operating in one of the fastest growing segments within the crop care market, Incotec has developed and supplied a wide range of proprietary and sustainable technologies for both vegetable seeds and field crops since 1968. Their products and services help to enhance and improve seed performance, allowing greater efficacy and functionality to be delivered directly by the seed to increase farming yields to feed the world’s growing population.  

Seed enhancement has been identified as a key market opportunity for Croda’s Crop Care business. Through this acquisition, a broader, more innovative portfolio of products will be available to customers through an enlarged and enriched global research and technical capability and a dedicated global sales force. Supported by further investment from Croda, the Incotec business will retain its independent identity and strong brand in offering priming, disinfecting, film coating, encrusting and pelleting expertise and providing analytical quality testing.

Steve Foots, Chief Executive of Croda, said: “Incotec is a rare asset in a niche, high value, fast growing sector of the global crop market. With an experienced research and development led management team, Incotec brings differentiated market leading technologies, world class innovation and strong customer relationships. The combination with our own Crop Care business creates a strong and unique platform for future growth. We believe that our combined innovation strengths, together with our global sales reach, will enable us to be far more responsive in meeting the unmet needs of our customers today and tomorrow.”

Douwe Zijp, Chief Executive of Incotec Group, said: “We started to look for a new partner and shareholder earlier this year and are extremely happy to have found the right partner in Croda. Together, we will continue to focus on the empowerment and encouragement of innovation, sustainability and customer intimacy. We are excited about our joint future and being part of the Croda Group.”


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For more information, please contact:

Jez Maiden, Group Finance Director Tel: +44 1405 860551

Conleth Campbell, VP Investor Relations Tel: +44 1405 860551

Charlie Armitstead, Pendomer Communications Tel: +44 7703 330 269

About Incotec:
Incotec is a leading player in the field of seed enhancement worldwide servicing multinational and local seed producers. Incotec adds value to the seed and crop protection industry value chain by providing a range of technologies and services for seed coating, pelleting, seed enhancement and analytical services for genetic analysis and quality inspection. Incotec has a long track record as an innovative leader in the industry, supported by a highly qualified research and development team dedicated to seed enhancement and related technologies.

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Croda Strengthens its Oil and Gas Portfolio Through Latest Acquisition

August 2014

Global speciality chemical manufacturer Croda, announces the acquisition of JD Horizons Limited, a UK based business specialising in ‘Solutions for Flow Assurance’ technology.

Founded in 1999 JD Horizons is today recognised as a market leader in additive technologies for flow assurance applications for international oil markets supplied under the FlowSolveTM trademark. Croda’s purchase of the trade and assets of the business strengthens its position in oilfield and refinery process chemicals and reinforces its commitment to supplying speciality additives to the oil and gas industry from production through to refinery.

Using Croda’s well-established, global sales, marketing and manufacturing expertise will ensure that existing and new customers of these products will benefit from optimised performance, global technical support and reliable high standards delivered at a local level.

Rick Hanson, Global Managing Director, of Croda Oil & Gas, said: “This is a key strategic acquisition for our oil and gas business as it explores emerging and new markets, which will further build upon our global reach to meet our high growth expectations.”

“This deal represents a breakthrough moment for the FlowSolve business”, comments Dr Jack Dunlop, Founder and Managing Director of JD Horizons. “I cannot imagine a more suitable home for our business and look forward to working with the Croda Oil & Gas business team”.


About Croda
Founded in 1925 Croda has developed its position as a leading speciality chemical company producing an unrivalled range of naturally derived products for industry. From personal care to polymer additives, home care to health care, lubricants to crop care, oil and gas to water treatment, Croda technologies is at the heart of the finished products.

About Croda Oil & Gas
Croda Oil & Gas is a global business offering speciality additives into a wide range of applications, providing innovative chemistries to meet the requirements of the field in drilling, completion, stimulation, production and refining applications.

About JD Horizons
JD Horizons was founded in 1999 by Dr Jack Dunlop as a new business venture in speciality chemicals for international oil industry markets. Today JD Horizons primary business activity is centred on the development and marketing of proprietary additive technology for oil industry markets, particularly oilfield chemicals and flow assurance applications, marketed under the FlowSolve trademark.

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AM Coatings

April 2014

Croda’s Coatings & Polymers business and Technology Investment Group are pleased to announce the acquisition of AM Coatings (AMC), completed on 3rd April 2014. AMC have researched and developed novel non-leaching antimicrobial technology for coating and adhesive applications. Croda plans to commercialise and exploit this technology firstly to C&P customers and potentially, in the future, into other business sectors.

Antimicrobial coatings are estimated to be worth $1.5bn and are growing at 9% CAGR globally, with the majority of business in USA, Europe and North Asia. They are one of the key ‘functional coating’ trends being observed in the marketplace and the AMC technology is expected to allow Croda to develop a leading position in this field.

Acquisition in China increases emerging market presence and strengthens Performance Technologies business

29 July 2013

Croda International Plc (“Croda” or “the Group”) announces that it has received Chinese regulatory approval to acquire a 65% equity interest in Sichuan Sipo Chemical Co. Ltd (“Sipo”), a non-listed natural speciality chemicals manufacturer based in Mianyang City, Sichuan Province, China. Completion of the transaction is subject to customary closing conditions which are expected to be fulfilled within the next few weeks.

The majority stake will be acquired from Sichuan Forever Holding Co. Ltd and certain individual shareholders for a total consideration of £38.2m*, including £8.0m* of debt, subject to working capital, net cash and fixed asset adjustments. Sichuan Forever Holding Co. Ltd will continue as the minority shareholder retaining a 35% equity interest in Sipo.
Sipo was established in 1993 and has approximately 300 employees. Sipo makes speciality derivatives from natural raw materials and its products include primary amides, novel fatty acids and speciality esters. In 2012 the business reported a turnover of £28.0m and EBITDA of £3.1m. A state of the art, well invested production facility, custom built in 2011, will provide additional capacity from the outset and increase Croda’s proximity to customers in the region, strengthening its existing operations across China and the Group’s overall position in Asia. Sipo will also consolidate Croda’s global leadership in fatty acid amides and add new technology that will enable the Group to expand its portfolio across a number of its core markets.

Apart from a small number of by-products, all of Sipo’s products will be sold through the Croda global sales network. Croda’s initial focus is to grow sales from its Performance Technologies business to the Polymer Additives and Lubricants sectors, with further opportunities in new markets expected to follow in due course.
Steve Foots, Chief Executive of Croda, commented:

“This is a significant step forward in our strategy to increase Croda’s presence in fast growing and emerging markets. Sipo’s manufacturing capabilities together with our marketing expertise and sales force infrastructure are an exciting combination. We will have a stronger platform in niche markets and renewable technologies which will allow us to develop our customer base and drive sales growth in Asia. Our broader footprint in China will also enable us to be more responsive to customer needs in this important region.”

For further information please contact:

Steve Foots, Group Chief Executive Tel: 01405 860 551

Sean Christie, Group Finance Director

Charles Armitstead / Rosie Oddy, Pendomer Communications Tel: 020 3603 5224

*purchase consideration of RMB361.6m and debt of RMB75.6m at an estimated exchange rate of RMB9.45/£.-

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Arizona Chemical - specialty products

24 May 2013

Naturally derived polyamides expand Croda’s broad portfolio of effects
Croda International Plc announces today that it has completed the acquisition of the Specialty Products business of Arizona Chemical based in Jacksonville, Florida in the USA.

The acquisition adds a portfolio of class leading oil gelling polymers to Croda’s business and further expands its footprint in the polymers arena, while strengthening Croda’s leading position in speciality chemicals derived from renewable resources. The technologies and products of the acquired business are naturally derived polyamides with high bio-renewable content, covered by a range of patents.
Keith Layden, Croda’s Chief Technology Officer, said:
“This acquisition represents further progress in our strategy to acquire complementary new technologies. The varied functionality of these specialised polyamides will be a valuable addition to our offerings across both the Consumer Care and Performance Technologies market sectors. In addition, there are a number of opportunities to further differentiate the technology and create value for ourselves and our customers.”


No manufacturing assets will be acquired as part of this transaction and Croda will immediately commence the relocation of the products to Croda’s Mevisa manufacturing site in Spain and when ready, re-launch the products with new trade names and marketing identities.
For further information please contact:

Keith Layden, Chief Technology Officer                                              Tel: 01405 860 551
Sean Christie, Group Finance Director

Charles Armitstead / Rosie Oddy, Pendomer Communications            Tel: 020 3603 5224 

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December 2012

I am pleased to announce that Croda has acquired the assets of Innovachem, LLC of Cutchogue, NY for a total consideration of $2.8m. 

The acquisition of Innovachem adds two new interesting product lines to the Croda Personal Care portfolio: the PANTHEQUAT™ conditioner and the LIQUIWAX™ range of cosmetic esters.  As a quaternised panthenol, PANTHEQUAT conditioner offers the benefits of Provitamin B-5 (panthenol), such as healthy-looking, shiny, and manageable hair and smooth, soft, moisturised skin, along with the substantivity imparted by a long chain quaternary.  This makes it an excellent ingredient for rinse-off systems.  The LIQUIWAX™ range will enable Croda to offer an even larger portfolio of multifunctional emollient esters with enhanced skin conditioning functionality, including softening and lubrication, as well as improved barrier function for excellent moisturisation benefits.


The acquisition was finalised on 20 December, 2012.  During the first half of 2013, Croda will transition the products offered by Innovachem, and formerly sold through third party distribution, into its portfolio.  As there are no manufacturing assets associated with the sale, all products will be manufactured at our existing sites in the US.
For further information please contact:

Keith Layden, Chief Technology Officer                                              Tel: 01405 860 551
Sean Christie, Group Finance Director

Charles Armitstead / Rosie Oddy, Pendomer Communications            Tel: 020 3603 5224 

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July 2012

We have acquired Istituto Di Ricerche Biotechnologiche (IRB), the global leader in plant cell culture biotechnology, for a total consideration of €7.5m. Formed in 1999 in Vicenza, Italy, IRB entered the market in 2009 after 10 years of pioneering research and had a turnover of €1.3m in 2011. It has 19 employees, including 9 in Research & Development.

The business will be integrated within our existing Sederma skin care actives business. As part of Croda, IRB will also have access to the Group’s unrivalled global sales and marketing network to maximise the potential of this exciting new technology. This acquisition provides Croda with leading edge technology and additional R&D capability in a fast growing market.

For further information please contact:

Keith Layden, Chief Technology Officer Tel: 01405 860 551
Sean Christie, Group Finance Director

Charles Armitstead / Rosie Oddy, Pendomer Communications Tel: 020 3603 5224

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