Valmont Israel Prospera Technologies Aibased 300msolomon: One of the largest agricultural companies in the world, Valmont, has acquired Prospera Technologies for $300 million. Prospera’s diverse range of technology includes precision fertilizer delivery systems, robotics, and automation. Valmont is a leading global provider of crop inputs, food processing equipment and services with revenues reaching over $8 billion annually.
Prospera’s acquisition offers an unparalleled opportunity for both companies to extend their reach into new markets and scale up production gains. For Valmont, the acquisition will accelerate innovation and expansion at a rapid pace as it seeks to find solutions for existing and future needs of farmers. With its vast catalogue of products to choose from, the agricultural sector should experience accelerating growth for some time.
“We are excited about the acquisition of Prospera Technologies. We believe this is a great fit for our robust portfolio and we look forward to benefiting from Prospera’s strong capabilities in precision fertilizer delivery, robotics and automation,” said Martin Dietz, CEO of Valmont. “We will be able to accelerate our innovation, innovation and delivery capabilities, in all of our products, to achieve even greater synergy across the company.”
Investors in both companies have expressed satisfaction with the deal. “The transaction provides Valmont with a strong foothold in the agricultural automation industry,” said Nelson Peltz, Chairman of Valmont. “This transaction delivers tremendous value for shareholders as well as new growth opportunities for both companies. We commend Valmont and its leadership team for identifying this significant opportunity.”
Prospera’s diverse range of technology offers a solution to many current and future issues in the agricultural sector. “Prospera has an amazing technology platform that is able to address many of Valmont’s challenges today, and we look forward to improving their existing products and adding new capabilities,” said Dietz. “By upgrading Prospera’s best-of-breed agricultural products, we expect to drive double digit sales growth in the coming years. Integrating our engineering and manufacturing capabilities, we see significant opportunities for accelerated growth.”
“All of us at Prospera are extremely excited about the prospect of joining Valmont’s incredible platform of technology,” said Paul Schettino, CEO of Prospera Technologies. “Our customers are going to benefit from a real consolidation in the market, which will help them create more value from their operations. We look forward to providing Valmont with a strong technological foundation as they seek growth in many new areas. We see tremendous opportunities for growth and innovation for both companies.”
This acquisition comes on the heels of Valmont’s recent $1.1 billion acquisition of Orano, a leading global producer and marketer of soybean seeds and oilseeds. This largesse, in addition to an ongoing tie-up with DuPont, demonstrates Valmont’s commitment to adapting to the impact of climate change, as well as its ability to implement changes that benefit the company’s shareholders.