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Oct. 23, 2009

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Oct. 23, 2009

MANA acquires Bold Formulators


MANA Crop Protection, a Makhteshim-Agan group company, has acquired Bold Formulators, LLC, a leading custom formulator, manufacturer and packager of agrichemical products, with facilities in Tifton and Ocilla, Ga. Financial details of the transaction were not disclosed.

"The acquisition of Bold Formulators has significant strategic importance for MANA because it provides extensive formulation and production capability within the United States. This improves MANAs flexibility and response time in meeting the changing needs of our customers," said John C. Rabby, President and CEO of MANA, headquartered in Raleigh.

John Rabby said MANA plans to retain the staff, assets and status of Bold as an independent contract formulator, along with the companys name. Jim Workman will continue as President of Bold.

Jim Workman said, "This is an expected and very positive event for Bold because MANA will now be able to help Bold move forward with additional investment in new equipment, technologies, and capacity.

"Current contracts Bold has with other agrichemical companies to formulate and produce their products will be maintained, along with their independent and confidential nature, similar to the long-standing arrangements MAI has with agrichemical customers elsewhere in the world," said Workman.

Bold is a leader in the specialization of liquid and dry agrichemical formulations, providing all phases of product development and manufacturing: packaging, formulation, quality assurance and shipping. The company has more than 200,000 square feet of production and warehouse facilities that can operate 24/7 and manufacture flowable, dry flowable, wettable powder, and emulsifiable concentrate products. The Tifton and Ocilla plants provide several options for batch size, milling, packaging and bulk storage.

Makhteshim-Agan Industries, Ltd. (MAI) is a world-leading manufacturer and distributor of branded off-patent crop protection products. With sales over $2 billion, MAI ranks seventh in global agrichemical companies. The Company is characterized by its know-how, high-level technological-chemical abilities, expertise in product registration, observance of strict standards of environmental protection, stringent quality control, and global marketing and distribution channels.

MANA is a North American wholly owned affiliate of MAI. MANA offers the most comprehensive and diversified product portfolio in the crop protection industry, with more than 50 formulations of insecticides, fungicides, herbicides, plant growth regulators, and harvest aids.

Bold was launched at the Tifton location in 1975 as Bold Corp. by E. Carlyle West of Charlotte, N.C. In 1991, capacity was expanded five-fold by opening a second production site in Ocilla. Through extensive investment in new equipment and technologies, Bold has continued its leadership position within the industry. Bold chemist and plant manager Jim Workman acquired the corporation in 2008 and renamed the company Bold Formulators LLC.





 

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