Arysta LifeScience Limited has announced that Platform Specialty Products Corp. has completed its previously announced acquisition of Arysta LifeScience for approximately $3.51 billion, subject to working capital and other adjustments.
Upon closing of the acquisition, the president and CEO of Arysta LifeScience, Wayne Hewett, became Platform’s president, joining Martin E. Franklin and Dan H. Leever as part of Platform’s Office of the Chairman (OTC). In this role, Hewett will lead the agrochemical businesses and oversee Platform’s ongoing operations. Furthermore, Flavio Prezzi, formerly responsible for the Arysta LifeScience operations in Latin America, was appointed COO of Platform’s newly created agrochemical segment.
The closing of this acquisition marks Platform’s third acquisition within the agrochemicals operating segment following the acquisitions of the Agriphar Group on Oct. 1, 2014, and Chemtura AgroSolutions on Nov. 3, 2014, creating one of the most comprehensive, global line-ups of both traditional and non-traditional crop solutions. Platform’s new combined agrochemical business, which is expected to uniformly operate under the Arysta LifeScience tradename, will be run as a vertically integrated agricultural chemicals segment with expected sales of approximately US$2.1 billion.
The new business operates in more than 125 countries and expects to benefit from a global supply chain that should allow operational efficiencies to become realized almost immediately.
Arysta LifeScience, now owned by Platform Specialty Products, is a leading crop protection and lifescience company with 2013 revenues of US$1.5 billion. An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products that meet the needs of its global partners.
Platform is a global producer of high-technology specialty chemicals and provider of technical services. The business involves the manufacture of a broad range of specialty chemicals, created by blending raw materials, and the incorporation of these chemicals into multi-step technological processes. These specialty chemicals and processes are sold into multiple industries including agricultural, electronics, graphic arts, metal and plastic plating, and offshore oil production and drilling.