Newport Beach, California, USA
December 23, 2019
American Vanguard Corporation (NYSE:AVD), today announced the acquisition of four herbicide brands from Corteva Agriscience (NYSE:CTVA). These products are complementary tank-mix partners for a variety of primary herbicides used in the U.S. agricultural market. They are particularly valuable for enhancing weed control performance against increasing numbers of resistant weed species.
The brands involved are Classic®, First Rate®, Hornet® and Python®. This transaction includes acquisition of end-use registrations, commercial sales and marketing information and finished goods inventory. Financial terms are not being disclosed.
Eric Wintemute, Chairman and CEO of American Vanguard commented, “Acquisition of these four brands from Corteva Agriscience provides our crop protection business with a strengthened portfolio of valuable herbicides that play an important role in weed control and resistance management. These brands broaden our U.S. herbicide offering in soybeans, corn, peanuts and a number of other niche crop markets.”
Mr. Wintemute continued, “In addition, these products provide a number of beneficial performance characteristics. Classic is an excellent tank-mix partner with other post-emergence herbicides to expand the weed control spectrum in soybeans and peanuts. First Rate provides both pre- and post-emergence control in soybeans and is effective in all tillage systems with excellent crop safety. Hornet, with dual modes of action, is preferred for early-to-mid season control of hard to manage glyphosate resistant weeds. Python is focused on post-harvest, weed elimination “burn-down” applications in U.S. corn and soybeans.”
Mr. Wintemute concluded, “These brands have well-established market positions, are solidly profitable and can be readily incorporated into our existing sales and marketing programs. We are very excited about the opportunity these products provide in helping our valued customers improve crop yields through superior weed control management in a number of crop segments that are strategically important to drive AVD’s growth.”
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