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.
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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