Fmc Corp To Sell Specialty Business To Envu

By Author: Ben Gross
Total Articles: 409
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FMC Corporation, a leading global agricultural sciences company, today announced it has signed a definitive agreement to sell its Global Specialty Solutions (GSS) business to Environmental Science US, LLC, known as Envu, an environmental science company providing innovations that protect and enhance the health of environments around the world. Envu will purchase the GSS business for a purchase price of $350 million, subject to closing working capital adjustment.

In November 2023, FMC announced plans to explore strategic options for GSS, which includes a line of products that serve a diverse mix of non-crop markets such as golf courses, professional sports stadiums and pest control. As FMC concentrates on innovating products and services for the global crop protection market, GSS no longer has a clear, strategic role in the company's mid- or longer-term goals.

"Global Specialty Solutions is a profitable business with a strong history of growth. We believe this agreement with Envu will provide the attention and resources it needs to continue thriving," said Pierre Brondeau, FMC Chairman and CEO. "With this divestment, ...
... FMC can focus solely on its core business."

Envu, which was acquired by international private equity firm Cinven in 2022, is solely dedicated to the environmental science sector and sees GSS as an opportunity to support its growth strategy while continuing to deliver powerful innovations for customers in professional pest management, turf & ornamentals and more.

More Information : https://www.techdogs.com/tech-news/pr-newswire/fmc-corporation-signs-definitive-agreement-to-sell-global-specialty-solutions-business-to-envu