Arysta LifeScience Limited announced that Platform Specialty Products Corporation 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 Chief Executive Officer 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, Wayne 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 Chief Operating Officer 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 October 1, 2014, and Chemtura AgroSolutions on November 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.
Wayne Hewett, Platform’s new President, stated, “With the close of this acquisition, we are eager to capitalize on the unique growth opportunities that will emerge from having Arysta LifeScience, Agriphar and Chemtura AgroSolutions under one umbrella, counting on the support of our combined team of professionals around the world. Our newly-created AgroSolutions segment possesses a strong bias toward high-growth areas, both in terms of product lines and geographic presence, and with an industry-leading portfolio of active ingredients and registrations, we are ideally positioned to continue developing solutions that will address the evolving demands of farmers around the world.”
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.