American Vanguard Expands Latin American Presence by Acquiring Punto Verde in Ecuador
October 09 2023 - 8:00AM
Business Wire
American Vanguard Corporation (NYSE: AVD) announced today that
its subsidiary AMVAC LATAM has acquired Punto Verde, a
well-established distributor in Guayaquil, Ecuador, to strengthen
its product portfolio and market access in the Latin American
region. AMVAC LATAM is a key player in the Latin American
agricultural sector and has become a leader in the
commercialization of crop protection products.
Peter Eilers, Managing Director of American Vanguard’s
international operations, commented: "We are pleased to have
completed the acquisition of Punto Verde in Ecuador, which is the
seventh largest agricultural market in LATAM. While not a sizable
transaction (this will add about five percent to our total LATAM
sales), we see this as an important path for market access in South
America through a well-managed distribution business.”
Gerardo Suárez, general manager of AMVAC LATAM, commented:
"Punto Verde is an excellent fit for AMVAC in their commitment to a
high level of ethics, quality, service and professionalism. We are
confident the experience and market knowledge of this company will
serve as the ideal platform upon which we can increase our
participation in Ecuador. This acquisition provides an important
addition to our expanding Green Solutions business, as we
anticipate development of our portfolio of AMGREEN bio-rational
solutions through Punto Verde. This deal reinforces our commitment
toward leaving a better world for future generations.”
Both parties have announced October 5, 2023, as the official
closing date for this transaction. Terms of the acquisition were
not disclosed.
About American Vanguard
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops, manufactures, and
markets solutions for crop protection and nutrition, turf and
ornamentals management, commercial and consumer pest control. Over
the past 20 years, through product and business acquisitions, the
Company has expanded its operations into 17 countries and now has
over 1,000 product registrations in 56 nations worldwide. Its
strategy rests on three growth initiatives – i) Core Business
(through innovation of conventional products), ii) Green Solutions
(with over 130 biorational products – including fertilizers,
microbials, nutritionals, and non-conventional products) and iii)
Precision Agriculture innovation (including SIMPAS prescriptive
application and Ultimus measure/record/verify technologies).
American Vanguard is included on the Russell 2000® and Russell
3000® Indexes. 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 Punto Verde:
Punto Verde is a leader in agricultural solutions in Ecuador. It
has a proactive and dynamic team, a successful commercial platform,
and a well-consolidated Corporate Social Responsibility program.
Additionally, Punto Verde has developed its own line of products
and maintains relationships with key business partners in the
agricultural market. Its business model is based on three
fundamental pillars: research and development, a committed
professional team and a commercial platform that includes
personalized attention and high-quality products.
For more information about this topic, you can contact the
telephone number +(506) 2401-0700 or the email
infolatam@amvac.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231009941712/en/
Company Contacts: American Vanguard Corporation William
A. Kuser, Director of Investor Relations (949) 260-1200
williamk@amvac.com
Investor Representative The Equity Group Inc.
www.theequitygroup.com Lena Cati (212) 836-9611
Lcati@equityny.com
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