American Vanguard Expands Non-Crop Presence by Acquiring OHP, Inc.
September 25 2017 - 9:00AM
Business Wire
Acquisition will strengthen product
portfolio and facilitate market access in greenhouse and nursery
markets
American Vanguard Corporation (NYSE: AVD) announced today that
its wholly owned subsidiary AMVAC Chemical Corporation will acquire
OHP, Inc. OHP is a leading provider of technology based pesticide
solutions specifically packaged and labeled for greenhouse and
nursery production applications. Products are marketed utilizing a
network of leading distribution partners throughout the United
States and Puerto Rico. The parties expect that the transaction
will close on October 2, 2017.
OHP will continue to operate as it has in the past. It will
maintain the OHP, Inc. name, its products will continue to be
marketed under OHP brands, and the business will remain under the
leadership of Dan Stahl, OHP General Manager. The OHP team will
continue to sell OHP’s existing portfolio and service its current
and future customers.
AMVAC Chief Operating Officer, Bob Trogele commented: “We are
extremely excited to have OHP become a significant part of AMVAC’s
Non-Crop business. Their entrepreneurial culture, business model
and strategy are very similar to ours, so it is a great fit. In
addition, the OHP team brings a reputation for high quality
products and unequaled customer service. The leading position that
OHP has built will be a great complement to our growing turf,
ornamental and pest control business.”
Dan Stahl, General Manager of OHP commented: “We are very
pleased to join AMVAC. The cultural fit, resources and business
development approach of AMVAC will create tremendous opportunities
for growth. I am truly excited to be a part of the AMVAC leadership
team and look forward to continuing to grow the OHP business.”
In recent years, OHP has generated annual sales in the range of
$20-$25 million and American Vanguard expects to build on that
foundation going forward. This acquisition will increase AMVAC’s
Non-Crop business by approximately 50%. Terms of the deal were not
disclosed.
About American Vanguard
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops and markets products
for crop protection and management, turf and ornamentals management
and public and animal health. American Vanguard is included on the
Russell 2000® and Russell 3000® Indexes and the Standard &
Poor’s Small Cap 600 Index. To learn more about American Vanguard,
please reference the Company’s web site at
www.american-vanguard.com.
The Company, from time to time, may discuss forward-looking
information. Except for the historical information contained in
this release, all forward-looking statements are estimates by the
Company’s management and are subject to various risks and
uncertainties that may cause results to differ from management’s
current expectations. Such factors include weather conditions,
changes in regulatory policy and other risks as detailed from
time-to-time in the Company’s SEC reports and filings. All
forward-looking statements, if any, in this release represent the
Company’s judgment as of the date of this release.
About OHP
OHP Inc., originally Olympic Horticultural Products, is a
privately owned company founded with the goal of becoming the
leading provider of technology based pesticide solutions for the
greenhouse and nursery production markets. Today OHP is recognized
as the leader in this market. The OHP team licenses, develops,
registers, markets, services and sells products specifically
packaged and labeled for the greenhouse and nursery production
markets through a network of leading distribution partners
throughout the United States and Puerto Rico.
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version on businesswire.com: http://www.businesswire.com/news/home/20170925005308/en/
American Vanguard CorporationWilliam A. Kuser,
949-260-1200Director of Investor
Relationswilliamk@amvac-chemical.comorThe Equity Group Inc.Lena
Cati, 212-836-9611Lcati@equityny.comwww.theequitygroup.com
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