Nufarm Acquires Etigra
18 March 2008 Nufarm subsidiary Nufarm Americas has acquired US-based crop protection company Etigra pending final legal documentation, according to a company release.
Etigra is North Carolina-based privately-owned crop protection supplier specializing in turf and specialty markets in the US. The acquisition bolsters Nufarm’s turf and specialty portfolio and provides additional distribution.
Doug Rathbone, Managing Director for Nufarm, said Etigra is a great fit for Nufarm’s US growth objectives: “The US turf and specialty segment represents a market of some US $1.9 billion for the products we supply, making it a very significant and valuable market for the products we produce.” He added that Etigra’s registrations will help Nufarm increase business in several sectors, including cotton, and that 60% of Etigra’s revenues come from sales of its fungicides and insecticides, while Nufarm’s portfolio is strongest in herbicides.
Nufarm Americas President, Dale Mellody, said he looks forward to working with the Etigra team to deliver significant value to the existing distribution customers of both companies. Dale Mellody, Nufarm Americas president, agreed, saying that “Etigra will bring a portfolio of more than 50 products; excellent distribution relationships; and a team of very experienced and capable people.”
Nufarm and Etigra expect to conclude a sale and purchase agreement and have the transaction finalised by the end of March.
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