Agricultural chemical firm American Vanguard Corporation has recently announced that the company has acquired the Quizalofop (QPE) herbicide product line from Corteva Agriscience, which is DowDuPont’s Agriculture Division. Apparently, these products have primary markets in pulse, soybeans and canola in Canada and the United States.
According to a press release by American Vanguard, this transaction would also involve the acquisition of commercial sales information, technical registrations, along with the transfer of existing product supply arrangements. Monetary terms regarding the deal was not yet disclosed.
Chairman and Chief Executive Officer of American Vanguard, Eric Wintemute, said in a statement that this acquisition of Corteva Agriscience’s QPE product line provides the firm’s crop protection business with a range of valuable herbicide brands which hold considerable leadership positions in the market of North America.
Wintemute was quoted saying that these products are complementary to the existing glufosinate, glyphosate as well as 2,4D use, and are highly regarded for grass and weed control by delivering a wide range of application and remarkable crop safety.
Wintemute mentioned that the new Enlist seed trait technology for corn from DowDuPont provides QPE herbicides with crop tolerance and makes them ideal to achieve improved weed management. AVD has secured a license through this acquisition for marketing QPE for using alone or over-the-top of the new Enlist corn seeds with Enlist herbicides. Enlist corn seeds is supposedly a segment which is predicted to grow significantly in the upcoming years.
Wintemute further said that these products offer the promise of growth as the technology of the Enlist trait expands, they are solidly profitable and have a deep-rooted market position. The company has also acquired the rights for marketing in Chile and Argentina with this transaction, which dovetails with the company’s initiative of increasing market access in that region of South America.
American Vanguard would keep a number of existing supply agreements for these products as well as incorporate the marketing & sales of these brands in the company’s expanding portfolio of herbicide offerings, Wintemute added.