Univar Inc. UNVR recently announced that NexusAg has initiated the sole distribution agreement with Novozymes for its downstream biological products in Canada. Notably, the products comprise a major portion of the inoculants portfolio. Moreover, the start of this agreement allows NexusAg to be renamed as NexusBioAg, a trusted source for crop nutrition.
Per Univar, the deal is a strategic collaboration and pertinent to the increasingly-advanced Canadian agricultural industry. The companies will combine decades of industry experience as well as its extensive reach and logistics. Univar’s NexusBioAg has dedicated sales presence, which is aimed at introducing superior market intelligence data and analytics to predict trends and drive growth.
Notably, the agreement includes the addition of Novozymes' leading product brands (including Optimize ST, JumpStart and TagTeam LCO) to the NexusBioAg’s extensive portfolio of biological and crop fertility products. The agreement brings onboard a diverse group of agricultural experts for providing services to Canadian farmers and crop retailers.
Univar’s shares have lost 24.7% in the past year compared with the 34.6% decline of the industry.
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