Sumitomo Chemical Co., Ltd. has acquired 80% of the shares of UK crop protection product distributor, Interfarm, through Sumitomo Chemical Agro Europe.
Interfarm distributes a wide range of products in the UK and Ireland, with annual sales of around $8 million. Current Interfarm managing director, John Martin, will become managing director of the new business and holds the remaining 20% of the company. The company has nine employees. According to Sumitomo, it intends to take full advantage of the experience of the current Interfarm employees to develop its existing and new products portfolio.
The acquisition strengthens Sumitomo's position in the UK and Irish markets and provides an excellent platform for the launch of the winter wheat herbicide, SumiMax® 30 SC.
The deal is also in line with Sumitomo's strategy to establish development and direct distribution operations in major overseas markets. In Europe, the company has such operations through the joint ventures, Philagro in France and Isagro Italia in Italy, and its subsidiary, Kenogard, in Spain. With its own base in the UK, Sumitomo will accelerate the product development and registration process and enhance distribution and promotional activities closer to home, according to the company.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment