Corteva (NYSE: CTVA) and Belgium-based Globachem N.V. have signed a definitive agreement to establish a 50/50 joint venture focused on developing and commercializing crop protection solutions in Europe and the Americas, according to a press release.

The independently operated venture will draw on late-pipeline and commercial-stage technology from both parent companies to develop, register, and market crop protection products. New solutions are expected to launch in the early 2030s and will be sold through established commercial channels.

The agreement builds on an existing multi-year partnership between the two companies. Corteva brings pipeline and discovery capabilities, while Globachem contributes expertise in formulation, product development, and regulatory execution.

Corteva Senior Vice President Brook Cunningham said the collaboration is part of the company's broader strategy ahead of its planned separation into a standalone crop protection company. "By combining our industry-leading pipeline and innovation capabilities with Globachem's expertise in formulation, we aim to scale and accelerate the delivery of more tailored, comprehensive solutions for core crops in targeted markets," Cunningham said.

Koen Quaghebeur, Chief Visionary Officer and co-founder of Globachem, described the agreement as "an important milestone" in the companies' relationship. "The JV will accelerate the delivery of differentiated crop protection solutions that help growers address evolving agronomic challenges," he said.

The transaction is expected to close in the fourth quarter of 2026, subject to regulatory clearances and approvals. Globachem is a family-owned company headquartered in Sint-Truiden, Belgium, and operates in more than 60 countries.