American Vanguard invests in biological products and technologies
Mar. 4, 2016
Bi-PA functions as a product development engine bridging basic research/discovery and end-market commercialization. It accomplishes this commercial development by focusing on optimizing formulations and securing regulatory approval. This investment affords American Vanguard a 15% share of Bi-PA’s total enterprise valuation; distribution rights in the Americas for Bi-PA’s Vintec Trichoderma biological fungus control agent and subsequent products; and access to a pipeline of new products & technologies that emerge from Bi-PA’s scientific research programs with the Italian research-based Fondazione Edmund Mach Institute and other future research collaborations.
Eric Wintemute, Chairman and CEO of American Vanguard, stated: “We are very pleased to secure an ownership position in this outstanding biological development firm with its open innovation platform and novel business model. Our industry has come to recognize that biological solutions technology is an important complement to synthetic chemistry and genetically modified defenses in crop protection and non-crop applications. We look forward to promoting Bi-PA’s current Trichoderma-based products as well as subsequent product developments in North, Central and South America. By creating and commercializing new added value formulations, we intend to provide a broad range of chemical and biological protective technologies that solve complex real world challenges. Our investment in Bi-PA’s product development capabilities reinforces American Vanguard’s strategic focus and underscores our commitment to leading-edge technological innovation and expanded international market access.”
Johan De Saegher, CEO of Bi-PA stated: “The investment by AMVAC in Bi-PA fits perfectly in the strategy of Bi-PA, focusing on development and registration of novel biological solutions for the crop protection industry and relying on strong marketing partners for the distribution of our products. Through AMVAC, Bi-PA gets access to a strong market channel for the Americas and to a network of expertise in this region. The application of our patented Trichoderma-based product Vintec against wood diseases in vineyards will now also become available to the wine growers in this region. Biological treatments offer great possibilities and will become more important in the future due to their benign characteristics for the users and the environment.”