Investment Firm Takes Majority Stake in AgBiTech
9 December 2015 Paine & Partners, a global private equity investment firm has made a majority stake investment in biological pest control company AgBiTech Pty Ltd, headquartered in Queensland, Australia.
AgBiTech distributes its biological insecticide products in Australia, Brazil and the U.S. under the Vivus Max, Armigen and Heligen brands, respectively. The company also operates a production facility in Australia and will be constructing a second facility in the U.S. based on its production technology platform. The U.S. facility will allow the company to build on its leading position in the growing market for biological insecticides through an expansion into NPV production for related but more prevalent pests, including Spodoptera (a.k.a. fall armyworm) and Chrysodeixis (a.k.a soybean looper). The Australian operations will maintain a vital role in AgBiTech’s future.
“Since our founding, we have focused on providing solutions for growers to combat pests such as Helicoverpa, and we have enjoyed considerable success in the Australian market,” said Anthony Hawes, CEO of AgBiTech. “As this pest has emerged in other, critically important agricultural regions, we see significant opportunities to bring AgBiTech’s products to these new markets, where growers are looking for effective biological tools to support conventional and transgenic production systems. We are excited about this partnership with Paine & Partners, which allows us to work with a firm that has a long history of success in the agricultural inputs markets and shares our vision about the role biologicals can play in sustainable agriculture and safe production of food.”
Read more about Paine & Partners investment in AgBiTech.
Get The Newsletter Today!
