Minnesota-Based MGK to Acquire Environmental Science Division from Valent
Transaction Combines Sumitomo Chemical's Environmental Health Division's
Insect Control Technologies Under the MGK Umbrella
MINNEAPOLIS, Aug. 12, 2013
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.
Contact: Ian Thorburn, MGK, email@example.com, 763-593-3479; or Steve
Shapiro, Tad Ware & Company, firstname.lastname@example.org, 612-558-6725
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