Minnesota-Based MGK to Acquire Environmental Science Division from Valent BioSciences
Transaction Combines Sumitomo Chemical's Environmental Health Division's Insect Control Technologies Under the MGK Umbrella
MINNEAPOLIS, Aug. 12, 2013 /PRNewswire/ -- MGK, an affiliate of Sumitomo Chemical Co., Ltd. (Sumitomo), a worldwide leader in insect control technologies, announced that it intends to acquire the Environmental Science Division (ESD) of Valent BioSciences Corporation (VBC), based in Libertyville, Illinois. This acquisition will broaden MGK's portfolio of active ingredients and formulation technologies, enhancing its portfolio of insect control solutions, according to MGK President Steve Gullickson.
"This is a great opportunity for MGK," explained Mr. Gullickson. "Valent BioSciences' ESD is a successful, well-operated business that has developed many effective insect control products, many of which will complement MGK's existing product portfolio. More importantly, MGK is now in an even stronger position to serve our customers and create environmentally responsible and effective insect control solutions."
MGK currently has approximately 250 EPA product registrations in the U.S, with one-third of its product line utilizing pyrethrum, the natural botanical ingredient. The remaining products are designed using conventional active ingredients and formulation technologies proprietary to MGK. By purchasing VBC's Environmental Science Division, MGK will immediately add more than one hundred registered products to its roster.
The transition of this Valent BioSciences division embodies the growing partnership between Minnesota-based MGK and Sumitomo, This acquisition aligns Sumitomo's USA-based environmental health insect-control technologies under the MGK umbrella.
The acquisition is expected to close in September.
About MGK (www.mgk.com)
Founded in 1902 and based in Minnesota, MGK sells insect control products into global markets including consumer home and pet products, professional pest control, animal health, and crop protection. An affiliate of Sumitomo, MGK is a worldwide leader in the development and distribution of the botanical insecticide pyrethrum as well as a wide range of conventional insect control technologies. MGK and its subsidiaries employ 250 people at its facilities in North America, Europe, Africa and Australia, and sell its products into more than 60 countries. The company's mission is to make life healthier by creating responsible products that protect people and their environments from the impact of insects.
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