Dow closes on Rohm and Haas acquisitionThe Dow Chemical Company and Rohm and Haas Company announced June 1 that they have completed the sale of Rohm and Haas Company’s agricultural business to Dow Chemical for approximately US $1 billion, including working capital. The acquisition will be integrated into Dow AgroSciences LLC, a wholly owned subsidiary of Dow.
Under terms of the agreement, Dow AgroSciences acquired Rohm and Haas's Agricultural Chemicals business, including fungicides, insecticides, herbicides, other product lines, trademarks, and license to all agricultural uses of the Rohm and Haas biotechnology assets. With this acquisition, Dow AgroSciences' annual sales are expected to grow to approximately US $3 billion annually.
"We are very pleased with this acquisition, which is consistent with our overall growth strategy of adding value through mergers, acquisitions, alliances and our own R&D efforts,” said A. Charles Fischer, President and CEO of Dow AgroSciences. “The new product lines we’ve acquired complement and enhance our portfolio and increase our global scale and reach, allowing us to better serve our customers."
“The agricultural chemicals business has a long and proud history with Rohm and Haas and has contributed substantially to our company,” said Raj Gupta, Rohm and Haas Company’s Chairman and CEO. “However, as we re-shape our portfolio and continually focus on profitable growth, it is clear our ag chemicals business and employees will flourish more as part of a global firm with a stronger market presence. Dow AgroSciences is a leader in the crop protection industry, and can ensure the vitality of the business in the marketplace.”
Products acquired through this acquisition include the fungicide Dithane, the herbicide Goal and the MAC family of insecticides, including Confirm, Mimic and Intrepid.