Syngenta has announced it plans to acquire the DuPont Professional Products insecticide business, including a number of registered trademark brands for $125 million.
Syngenta has announced it plans to acquire the DuPont Professional Products insecticide business, including a number of registered trademark brands. The acquisition price is $125 million.
The transaction is subject to regulatory approval. Closing is expected in the fourth quarter of 2012.
Created in 2002, the DuPont Professional Products insecticide business specializes in the development and marketing of innovative branded products for the professional turf and pest control markets, including Altriset, Advion Arilon and Acelepryn.
“This is the next step in our strategy to scale our Turf and Landscape business within Lawn and Garden to further support our customers,” said Tim Kroenke, head, Syngenta Lawn and Garden North America. “This acquisition will help Syngenta gain leadership in the professional pest management market and increase our presence in turf.”
As a result of this transaction, Syngenta can pursue opportunities in adjacent markets such as the ornamental horticulture and consumer markets, the company said in a press release..
The company also said Syngenta Research & Development investment will drive growth in opportunities to extend the use of the active ingredients in the professional and home pest markets.