JM Huber Corporation signs agreement to acquire Biolchim Group from NB Renaissance, Checkers Capital and management team

JM Huber Corporation

ATLANTA, Aug. 08, 2022 (GLOBE NEWSWIRE) — JM Huber Corporation (Huber) — a global, family-owned specialty engineering materials company — announced today that it has signed a binding agreement to acquire full control of Biolchim Group from NB Renaissance, Checkers Capital and the Biolchim Group management team. The Biolchim Group, managed and headed by Galileo Quattro SARL, has its main operational base in Italy and is a leading manufacturer and distributor of a full range of specialty plant foods and biostimulants. Closing of the sale, which is expected to take place by the end of 2022, is subject to customary closing conditions, including approval for foreign direct investment in Italy.

All companies in the Biolchim group — including Biolchim SpA, Cifo, Ilsa SpA, Matécsa Kft and West Coast Marine-Bio Processing Corp. — are within the scope of purchase. The Biolchim Group operates eight production facilities worldwide and its products – biostimulants, trace elements and water-soluble, liquid and foliar fertilizers – are present in over 70 countries worldwide. The Biolchem ​​Group has a rich 50-year history of serving the agricultural industry.

Upon completion of the sale, Biolchim Group will become part of Huber Engineered Materials (HEM), a company in Huber’s portfolio of businesses. Biolchim Group will be a key part of the strategic foundation of HEM’s Huber AgroSolutions (HAS) business unit, which currently includes Miller Chemical & Fertilizer (Miller).

Leonardo Valenti, CEO of the Biolchem ​​Group since 2008 and a pioneer in the plant nutrition industry, will remain committed to leading the Biolchem ​​Group through the next phase of growth and integration, leveraging the synergy potential of the strategic combination of the two entities.

Huber AgroSolutions’ vision is to become a leading formulator of sustainable, high-performance agricultural products worldwide. The acquisition of Biolchim Group, which has achieved impressive growth through its broad offering of biostimulants and specialty nutraceuticals, greatly advances this vision by bringing an innovative and entrepreneurial workforce and culture to HAS. Together, the companies share a culture that is deeply committed to plant nutrition and the success of their many customers around the world.

The additional commercial footprint of the two companies will enable expanded customer and product access to key agricultural regions globally. In addition to remaining committed to serving Biolchim Group’s existing customer base, it also ideally positions HAS to advance sales of Biolchim Group products through its strong relationships with US-based manufacturers and its additional distribution network in Latin America and select countries in Europe, the Middle East and Africa. Biolchim Group’s sales channels are ideally suited to advance the sales of Miller’s various products through its strength in Europe and global network of subsidiaries.

“I am excited and energized by this opportunity to combine two successful businesses, Miller and Biolchim Group,” said David Riley, senior vice president and general manager of Huber AgroSolutions. “I am also grateful to Mr. Valenti for his leadership and support as we transition Biolchim Group and Miller into the next phase of growth.”

Leonardo Valenti, CEO of Biolchim Group, says: “The strategic combination of Biolchim Group and Huber AgroSolutions will be transformative as the companies have complementary commercial and product offerings as well as industry-leading technology and research capabilities. We are both eager to collaborate, share knowledge and build each other’s capabilities. The agreement will open up new growth ambitions and position us as a leading player in specialty nutrition globally. I am excited about the promising future for the company and am grateful to NB Renaissance and Checkers Capital for the continued support received over the past few years through the execution of Biolchim Group’s value creation plan and key strategic decisions.”

“Miller and Biolchim Group are creating a powerful combination of brands, people and specialty products that will bring tremendous value to our respective customers worldwide,” said Dan Krawczyk, president of HEM. “We are extremely excited to welcome Biolchim Group employees to Huber given the similarities in our cultures, values ​​and goals. Together, we will work to shape the future of the organization and build a leading global business in the agricultural industry.”

Gretchen McClain, President and CEO of JM Huber Corporation, added, “This combination reinforces our commitment to providing innovative products and solutions to the global agriculture industry. Ensuring food security for people around the world supports Huber’s overall commitment and strategy to sustainability.”

Huber was advised on the purchase by Rabobank and Jefferies, and Jones Day acted as legal advisor to Huber on the transaction.

About JM Huber Corporation
JM Huber Corporation, headquartered in Atlanta, Georgia (USA), operates a diverse portfolio of companies: CP Kelco, Huber Engineered Materials, Huber Engineered Woods and Huber Resources Corp. With locations around the world, our businesses create products used in a wide range of applications, including personal care, food and beverage, agricultural nutrients and adjuvants, construction materials, flame retardants and smoke suppressants, and sustainable forestry services. Founded in 1883, Huber is one of the largest family-owned companies based in the United States. For more information, visit www.huber.com.

About Huber Engineered Materials
Huber Engineered Materials (HEM), headquartered in Atlanta, Georgia (USA), focuses on engineered specialty chemicals and minerals that improve the performance, attractiveness and processing of a wide range of products used in industrial, agricultural and consumer applications. HEM’s AgroSolutions strategic business unit also has a portfolio of high-quality agricultural nutrients and adjuvants, which it supplies to customers in the agricultural industry through a global network of distributors. For more information, visit www.hubermaterials.com.

MEDIA CONTACT:
Lea Volpe
Director, Corporate Communications
JM Huber Corporation
678.247.7128 phone
[email protected]

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