A new and aggressive player in the crop protection industry has acquired Arysta Life Science, the marketer of Everest herbicide and a number of insecticides, fungicides and biostimulants.
Platform Specialty Products announced this week it purchased Arysta for $3.51 billion.
“Bringing Arysta under the Platform umbrella will create a broad agrochemicals offering that is uniquely positioned to provide farmers, globally, with a full suite of products to address their product and geography specific needs,” Daniel Leever, Platform’s chief executive officer, said in a release.
Arysta Life Science sells crop protection products in 100 countries and had revenues of US$1.5 billion in 2013.
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On the Prairies, the company is probably best known for Everest, a Group 2 herbicide used on wheat.
According to a press release, Arysta doesn’t manufacture active ingredients (AI).
“(Arysta) sources AIs from more than 100 suppliers to develop highly specialized formulations and product applications.”
The purchase of Arysta represents Platform’s third agrochemical acquisition in the last year. Platform, partly owned by American investor Bill Ackman, purchased Chemtura AgroSolutions for $1 billion in the spring. It also bought Agriphar, a Belgian crop science entity, for $300 million.
Company founder Martin Franklin said Platform may buy more companies to complement its lineup of agro-chemical products.
“Through the acquisitions of Arysta, CAS and Agriphar, we have established a leading position,” he said. “As we work to accelerate the organic growth within these businesses, we remain opportunistic on the acquisition front and will look to strategically expand our portfolio across other attractive, niche verticals.”
Platform, which was formed in 2013 with a strategy of acquiring target companies and businesses, is based in Miami, Florida.
