Aug. 24, 2017
American Vanguard Corporation (NYSE:AVD) announced recently that its wholly owned subsidiary AMVAC Mexico Srl has completed the acquisition of certain selective herbicides and contact fungicides sold in the Mexican agricultural market from Syngenta AG. This divestment results from Mexican regulatory authority COFECE’s resolution dated as of April 7th, 2017 related to the acquisition of Syngenta AG by China National Chemical Corporation. The transaction includes seven branded selective herbicides for sugar cane and eight contact fungicide brands. The transaction includes selective herbicides for sugar cane and contact fungicide brands including: Bravo® 720, Bravo Gold®, Daconil®, Gesapax®, Krismat®, Paquete Gespax Gold™ and Reflect™ 125.The terms of the acquisition were not disclosed.
Eric Wintemute, Chairman & CEO of American Vanguard Corporation, parent company of AMVAC Mexico said, “The acquisition of these products continues the successful track record of providing important solutions to farmers worldwide. AMVAC Mexico has been successfully operating in the Mexican crop protection market for over 20 years and has been steadily expanding its presence in the market. These products have enjoyed sales in the range of $8 million to $10 million in the recent past, and we expect to build upon that foundation going forward. The addition of such trusted and proven formulated products to AMVAC’s portfolio will complement and strengthen our existing herbicide and fungicide offerings.”