Tessenderlo Kerley and Purfresh reach agreement

Date:08-26-2011

Tessenderlo Kerley, Inc. (TKI) and Purfresh Inc., Fremont, California announced that the two businesses have reached an agreement for TKI to acquire the global assets of the Purfresh crop protection sun screen business and the Purshade product line including the trademarks, formulation knowledge, registrations, pending patents, other intellectual property and customer lists. Purshade is approved for sale in over forty countries.

The Purshade business will be managed and marketed by TKI’s NovaSource® business unit and will be a complementary offering to the company’s Surround® Crop Protectant product line. NovaSource is TKI’s business unit, charged with developing and marketing registered pesticides for niche crop protection and specialty markets.

Following closing of the acquisition, TKI will dismiss its complaint against Purfresh. The complaint, filed in the U.S. district court for the district of Delaware, asserted that Purfresh infringed certain TKI U.S. patents. Additional terms of the transaction will not be disclosed.