Paine Schwartz Partners has closed the sale of AgBiTech to BASF Agricultural Solutions, a division of publicly traded BASF.
AgBiTech develops and produces biological crop protection products that use naturally occurring viruses to control caterpillar pests in major row crops. Its products are used by commercial farming operations, including row crop producers and specialty crop growers, to protect crops such as soybeans, corn, and other staples, targeting specific insect pests while limiting environmental impact. The company manufactures its biological insecticides in the United States, Australia, and Brazil and distributes them across the Americas and other agricultural markets. AgBiTech, led by CEO Adriano Vilas-Boas, was founded in 2000 and is headquartered in Fort Worth, Texas.
Paine Schwartz acquired AgBiTech in 2015. During its ownership term, the firm worked with management to expand its commercial operations across agricultural markets, build direct-to-grower distribution in Brazil, and develop new products through investments in research and development.
“Paine Schwartz has been an exceptional partner in helping AgBiTech expand our reach and leadership in biological crop protection,” said Mr. Vilas-Boas. “Together, we have scaled our commercial capabilities, invested in innovation, and brought sustainable crop protection solutions to more growers in key countries. We are excited to join BASF Agricultural Solutions and believe their global platform will further accelerate the adoption of biological technologies in agriculture.”
“AgBiTech has built a strong reputation for delivering effective, sustainable biological insecticide solutions to farmers in key agricultural markets,” said Kevin Schwartz, CEO and managing partner of Paine Schwartz. “We are proud of the growth the company achieved during our partnership and believe BASF Agricultural Solutions is the right strategic owner to support the next phase of AgBiTech’s development. This successful outcome reflects our approach of partnering with management teams to build high-quality businesses that are attractive to leading strategic acquirers.”
BASF Agricultural Solutions develops and supplies crop protection chemicals, seeds and traits, and digital farming tools that are used by growers to manage yields and input costs. Its product portfolio includes herbicides, fungicides, insecticides, biological products, and seed technologies that are used across numerous row crops, as well as fruits and vegetables.
The business serves farmers, distributors, and agricultural retailers across North and South America, Europe, and Asia, with a focus on large-scale commercial agriculture. In 2025, the division had total revenues of €9.6 billion ($10.5 billion). BASF Agricultural Solutions’ global headquarters is located in Germany, with its North American headquarters in North Carolina.
“The biologicals market continues to grow rapidly, and acquiring AgBiTech strengthens our position in this attractive segment,” said Livio Tedeschi, the president of BASF Agricultural Solutions. “AgBiTech’s proven biological technologies complement our existing portfolio and will help us expand biological solutions for farmers across important geographic markets.”
Paine Schwartz makes control investments of $100 million to $300 million in companies with EBITDA from $10 million to $100 million. The firm makes investments in the food and agribusiness sectors, with a specific interest in productivity and sustainability. In September 2023, Paine Schwartz held a final close of its sixth fund, Paine Schwartz Food Chain Fund VI LP, with an above-target $1.7 billion of capital commitments. Paine Schwartz was founded in 2006 by Dexter Paine and Kevin Schwartz and has offices in New York City and San Mateo, California.
