Arysta LifeScience Completes Aquisition of Callietha Investments
Transaction gives Arysta LifeScience sole ownership of Volcano companies
Tokyo (2 July 2008) ― Arysta LifeScience Corporation, the world’s largest privately held crop protection and lifescience company, has announced the acquisition of the remaining 50 percent interest in Callietha Investments, the parent company of the Volcano companies, which includes Volcano Agroscience (Pty) Ltd, Volcano Granulation and Volcano Chemicals.
Volcano Agroscience is one of the leading suppliers of crop protection products in the Republic of South Africa and southern Africa. The acquisition gives Arysta LifeScience sole ownership of all Volcano companies.
Arysta LifeScience initially purchased 50 percent interest in Callietha Investments in 2005. At that time, they also acquired an option to buy the remaining shares in 2008. Arysta LifeScience exercised the option on July 1, 2008.
“Our investment in Volcano positions us to expand our business in southern Africa and strengthen our ability to offer African farmers access to an array of innovative products that will help advance their operations and improve their success,” said Chris Richards, CEO, Arysta LifeScience. “Full ownership allows Arysta LifeScience to extend the Volcano product portfolio, establish additional formulation capability and extend partnerships in southern Africa.”
With headquarters in Durban, South Africa, Volcano is recognized by southern Africa farmers for its high-quality product offerings, formulation expertise, and highly capable employees. In September 2007, Volcano opened a liquid formulation plant in the Canelands. An additional wettable dry granules production facility will open at the same location later this month.
Also in 2007, Volcano made a significant investment in NexusAG, the leading distributor in the highly sophisticated, export-oriented Cape market in South Africa. The partnership has allowed Volcano to make significant inroads into this important market in South Africa.
Both companies have agreed not to disclose the financial details of the transaction.
About Arysta LifeScience Corporation
Headquartered in Tokyo, Japan, Arysta LifeScience is the world’s largest privately held crop protection and lifescience company with 2007 revenues of JPY136 billion (US$1.2 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 in harmony with the needs of global partners. More information on the company is available at: www.arystalifescience.com