FMC Corporation has agreed to sell its Global Specialty Solutions business to Envu for $350 million, enabling FMC to focus on its core crop protection operations while allowing Envu to expand its offerings in the environmental science sector.

Information on the Target

FMC Corporation (NYSE:FMC) is a prominent global agricultural sciences company that focuses on innovation in crop protection products and services. The company recently announced a definitive agreement to divest its Global Specialty Solutions (GSS) business to Environmental Science US, LLC, also known as Envu. The GSS business provides specialized products targeting a diverse array of non-crop markets, including golf courses, professional sports stadiums, and pest control. The sale transaction is valued at $350 million, subject to customary adjustments based on closing working capital.

FMC previously communicated its intention to explore strategic options for GSS in November 2023, emphasizing its commitment to channeling resources towards its core focus on the crop protection sector. GSS, which has historically maintained strong profitability and growth, no longer aligns with FMC's long-term objectives, prompting this strategic divestment.

Industry Overview in the Target's Specific Country

The agricultural sciences sector in the United States has consistently shown robust growth, driven by innovations aimed at enhancing product efficiency and sustainability. As agricultural dema