Wednesday, August 29, 2012

Syngenta acquires DuPont's insecticide business

Wow, a lot of news lately. Our thoughts go out to the family and friends of Stan Zontek, who passed away recently. More on that soon.

In the meantime, this Syngenta-DuPont deal just was announced. We have press releases from both Syngenta and DuPont. 

Here's the press release from Syngenta:

Syngenta announced today that it will acquire the DuPont Professional Products insecticide business, including a number of registered trademark brands. Created in 2002, the DuPont Professional Products insecticide business specializes in the development and marketing of innovative branded products for the professional turf and pest control markets, including Altriset, Advion Arilon and Acelepryn. The acquisition price is $125 million.

“This is the next step in our strategy to scale our Turf and Landscape business within Lawn and Garden to further support our customers,” said Tim Kroenke, head, Syngenta Lawn and Garden North America. “This acquisition will help Syngenta gain leadership in the professional pest management market and increase our presence in turf.”

As a result of this transaction, Syngenta can pursue opportunities in adjacent markets such as the ornamental horticulture and consumer markets. Finally, Syngenta Research & Development investment will drive growth in opportunities to extend the use of the active ingredients in the professional and home pest markets.

The transaction is subject to regulatory approval. Closing is expected in the fourth quarter of 2012.

Here's the press release from DuPont:

DuPont today announced it is divesting certain assets of its global Professional Products insecticide business to Syngenta, subject to regulatory approval.

Syngenta will receive the rights to Advion, Acelepryn, Altriset, Calteryx, Provaunt and Arilon branded products and end-use registrations, and a license under DuPont’s patents and know-how for indoxacarb, chlorantraniliprole and cyantraniliprole related to their use in the Professional Product market. DuPont will continue to manufacture indoxacarb, chlorantraniliprole, cyantraniliprole and market products containing these active ingredients, such as Coragen and Prevathon in other markets. The transaction is expected to close in the third or fourth quarter of 2012.

“Innovations from our research and development pipeline are driving our Crop Protection business to an exciting, new position in agriculture,” said Rik L. Miller, president, DuPont Crop Protection. “Strategic divestitures like this one give us more resources to focus on what DuPont does best – delivering science-based solutions that help our customers feed a growing population.”

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