American Vanguard Buys Four Herbicide Brands From Corteva
Zacks Investment Research | Jan 02, 2020 09:40PM ET
American Vanguard Corporation (NYSE:AVD) has recently announced the acquisition of four herbicide brands, First Rate, Classic, Python and Hornet, from Corteva Agriscience. The company stated that these brands are valuable for boosting the performance of weed control against the growing numbers of resistant weed species. Moreover, the products are complementary for a number of key herbicides that are used in the agricultural market in the United States.
Notably, the transaction includes the purchase of end-use registrations, commercial sales and marketing information as well as finished goods inventory. The financial terms of the transaction were not disclosed.
The acquisition supports American Vanguard’s crop protection business by strengthening portfolio of valuable herbicides. The portfolio plays a vital role in weed control and resistance management. Also, these brands will broaden its U.S. herbicide offering in corn, soybeans, peanuts along with an array of other niche crop markets. The brands are profitable and already have well-established market positions. They will be readily incorporated into the company’s existing sales and marketing programs.
American Vanguard’s shares have gained 18.9% in the past year compared with the 18.7% rise of the Original post
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