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Nippon Soda acquires plant health business from Zoetis Japan
Dec. 8, 2017
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JapanNippon Soda Co Ltd has signed a contract to acquire the plant health business from Zoetis Japan in late March, 2018.
Zoetis is an animal medicine manufacturer independently established by Pfizer's Animal Health business division and has developed a plant health business to sell forest protection agents and agricultural chemicals in addition to veterinary drug business. The company's plant guard agent and plant health business centering on agrimycin drugs have earned high trust in the market through the unique products and technical services from the era of Pfizer.
"Green guard agent", widely used in the forest protection market, shows excellent efficacy in controlling pine wilting caused by pine wood nematode, which is a problem in various parts of Japan in recent years. Through this acquisition, the Group will be the top market share manufacturer of pine wither control chemicals in Japan. They will contribute to conservation of the natural environment and landscape by strengthening business in the environmental field "Protect important pine".
"Agrimycin agent" is a fungicide for controlling bacterial disease on fruit trees and vegetables.
“This acquisition will expand the product portfolio of our agricultural chemicals business and we expect synergistic effects with existing products,” said Nippon Soda. “Furthermore, with regard to the acquired business, we will aim to expand our business over the medium term by promoting development and marketing through the resources of the Group.”
The Group formulated the medium-term management plan (FY2017 – FY2019) in May this year, and is making progress with efforts to build a strong business base. Under the plan, Nippon Soda intends to aggressively promote M&A and business alliances to strengthen existing businesses and expand peripheral business, and as a part of these initiatives, the acquisition is expected to further enhance the corporate value of the Group.
Source: Nippon Soda news release
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