Valent U.S.A. Corporation Enters Consumer Lawn and Garden Market through Acquisition of Certain Assets of Green Light Company
Green Light's strong consumer focus, 60+ year history will provide solid gateway for Valent's consumer products
August 18, 2008
WALNUT CREEK, Calif. (August 18, 2008)—Valent U.S.A. Corporation announced today its agreement to acquire certain assets of Green Light® Company, a consumer lawn and garden business. The Green Light acquisition will provide the strategic foundation for Valent's entry into the consumer lawn and garden market.
San Antonio-based Green Light offers consumers a wide variety of self-branded insecticides, fungicides, herbicides and fertilizers through lawn and garden distributors and retailers.
California-based Valent is a major supplier of many best-in-class crop protection products for agricultural, turf and ornamental operations. Valent is a wholly owned subsidiary of Sumitomo Chemical Company, Limited (SCC), a committed global leader in the discovery and development of crop protection and plant enhancement products. SCC is Japan's leading supplier of consumer lawn and garden products.
"The multi-billion dollar consumer lawn and garden market is experiencing unprecedented growth. As homeowners and gardeners spend time caring for their yards, they demand effective, environmentally sound products," said Trevor Thorley, chief operating officer and president of Valent. "With this acquisition, we will blend Valent's strong reputation for developing new, highly effective products with Green Light's rich history and commitment to serving this market-ultimately giving consumers and retailers the products they need with the service they deserve."
The acquisition, signed on August 14, 2008, includes all Green Light products, brands, registrations and intellectual property. Green Light products will continue to be marketed under current brands, and customers should see no interruption of product supply during the transition. All current Valent business divisions, including the agricultural, turf and ornamental segments, will continue to operate with no change in status, products or distribution. The transaction is scheduled to close within 30 days provided that all necessary approvals have been obtained.
This acquisition is the latest in a series of moves by Valent leaders as they define the company's expansion strategy. With the recent introduction of several new fungicides and insecticides, the company has significantly increased its presence in the turf and ornamental markets. Additionally, Valent has committed a notable investment in building the research pipeline for developing new active ingredients across all business segments. The Green Light acquisition helps broaden Valent's presence in new markets.
About Valent, Sumitomo and Green Light
Valent U.S.A. Corporation markets and sells fungicides, herbicides, insecticides, miticides, nematicides and plant growth regulators for the agricultural, horticultural, turf, and ornamental markets. Valent is a wholly owned subsidiary of Sumitomo Chemical Company, Limited.
The Sumitomo Chemical Group includes more than 100 companies operating around the world in six business sectors: basic chemicals, petrochemicals and plastics, fine chemicals, information technology-related chemicals, agricultural chemicals and pharmaceuticals. SCC is the market leader in lawn and garden products in Japan.
Since 1947, Green Light Company has provided quality lawn and garden products to homeowners and gardeners. Green Light is a member of the Texas Nursery and Landscape Association and the California Association of Nurserymen.
For more information about Valent products, Valent U.S.A. Corporation or the full product line, call 800-6-VALENT (682-5368) or visit the Valent Web site at www.valent.com.
