Novozymes extends reach in sustainable agriculture inputs
Novozymes has acquired a Brazilian supplier of microorganism and inputs for sustainable agriculture, in a bid to expand its market position.
The Danish biotech firm spied an opportunity to buy Turfal, said to be the largest supplier of inoculants in the Brazilian market. Inoculants fix nitrogen in the soil, helping farmers reduce their use of fertilizers.
“The main reason for the acquisition is that we want to expand Novozymes’ position within the market for sustainable agriculture," says Thomas Videbæk, executive vice president, BioBusiness, Novozymes. "We see exciting growth opportunities on the Brazilian bioagriculture market, and Turfal will give Novozymes direct access to this market.”
Novozymes said the acquisition will have a effect of between DKK 10-15 million on its full year results.
