Syngenta Acquires DuPont Professional Products Business
The transaction, which is expected to close in the fourth quarter of 2012, acts to expand Syngenta's portfolio into professional pest management products.
August 29, 2012
Syngenta announced Aug. 29, 2012 that it will acquire the DuPont Professional Products insecticide business, including a number of registered trademark brands. 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. The acquisition price is $125 million.
“This is the next step in our strategy to scale our Turf and Landscape business within Lawn and Garden to further support our customers,” says Tim Kroenke, head of 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. Finally, Syngenta Research & Development investment will drive growth in opportunities to extend the use of the active ingredients in the professional and home pest markets.
The transaction is subject to regulatory approval. Closing is expected in the fourth quarter of 2012.