Platform Specialty Products Corporation, a global specialty chemicals company, announced today that it has entered into a definitive agreement to acquire Arysta LifeScience Limited, a leading global provider of crop solutions with expertise in agrochemical and biological products, from a company backed by the Permira funds for approximately $3.51 billion, subject to regulatory approval.
With 3,600 product registrations in more than 100 countries, Arysta offers market-leading insecticides, fungicides, herbicides, biostimulants and value-added nutrients. Its portfolio consists of both agrochemical and biosolutions products, which address the full spectrum of growers’ protection and yield enhancement needs. With a “close to the grower” philosophy, Arysta maintains a sales and marketing force of more than 1,300 professionals that possess both technical and local market expertise to create customized, value-added solutions.
Arysta has delivered stable and profitable growth under the Permira funds’ ownership. The company reported net sales of $1.5 billion for the full year 2013 and had a particularly strong performance in its key growth regions of Latin America and Africa. High-growth regions such as Latin America, Africa, Central and Eastern Europe, China and South Asia represented over 65% of Arysta’s sales in 2013. The proposed Arysta acquisition would have been more than 20% accretive to Platform’s 2014 adjusted earnings before synergies.
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