Syngenta announced yesterday that it has agreed to acquire the DuPont Professional Products insecticide business, a leading supplier of innovative products for the professional turf, ornamentals and home pest control markets. The acquisition will expand the range of products which Syngenta offers to golf course and lawn care professionals and to ornamental growers, and will also strengthen its portfolio for the control of home pests.
Under the terms of the agreement, Syngenta will acquire a global business including established pest control brands Advion® and Acelepryn® and other intellectual property, as well as a number of employees, for a consideration of $125 million. Syngenta will also access the related active ingredients and formulated products from DuPont through exclusive supply and licensing agreements.
Robert Berendes, Head of Business Development, said: "This acquisition will contribute to our objective of increasing profitability in the Lawn and Garden business through a focus on integrated solutions for our customers based on high value chemistry and genetics. The products we are acquiring have an excellent environmental profile while providing superior control of insects in a wide variety of applications."
The transaction is expected to close in the fourth quarter of 2012.
Article sourced from www.syngenta.com