Sumitomo to buy biostimulant firm
Subject to usual closing conditions, Japan’s Sumitomo Chemical is to acquire FBSciences, a US-based firm which makes naturally-derived biostimulants and biopesticides via proprietary methods. No financial terms or timelines have been disclosed.
Sumitomo values the biorationals market, the class of products in which biostimulants form the largest part at about $10 billion. This is about 10% of the size of the conventional agrochemicals market, but it has been enjoying far stronger growth.