BASF announced today that it has signed an agreement to acquire Sorex Holdings Ltd., a leading manufacturer of branded chemical and non-chemical products for professional pest management. The transaction, which includes U.S.-based Whitmire Micro-Gen and U.K.-based Sorex Ltd., will increase BASFs presence in the two most important pest control markets worldwide, the United States and Europe. Financial details have not been disclosed.
Michael Heinz, President of BASFs Crop Protection division, said: "We are convinced that combining our existing pest control business and research capabilities with the Sorex Group portfolio and expertise with application technology will strengthen us on several fronts. We will diversify into the U.S. general insect control segment and solidify our position in Europe. Combining our research and development capabilities will help us bring even more innovative solutions to pest management professionals."
In the United States, BASF now becomes a market leader in general insect control. In the termite sector, where BASF is already the market leader in liquid treatments, its portfolio is now broadened to include the second-largest termite bait offering: Whitmires Advance Termite Bait System. In Europe, BASF now also advances to a strong position in rodent and insect control solutions for professional pest managers.
The Sorex Group has an excellent reputation in the fast-growing general insect control segment and unrivalled expertise in the area of rodenticides. The company has approximately 200 employees and recorded net sales of EUR 72 million in 2007, primarily in the US and Europe. Sorex Groups portfolio and customer focus together with BASFs worldwide presence will help to grow the pest control business on a global level. Its formulation capabilities together with BASFs insecticides portfolio will enable BASF to develop tailor-made solutions for professional pest control.
Whitmire products in the US include a broad range of aerosol insecticides for general insect control, baiting systems for control of ants, cockroaches and termites as well as numerous dilutable insecticide formulations. Their strong position in pyrethrum-based insecticides and their Mother Earth line of insect control products will give BASF a strong foothold in the fast-growing general insect control market. These product lines will be highly complementary to BASFs Termidor and Phantom product lines. Sorexs strong position in the European market is based on the innovative technologies, especially in rodent control, hence broadening BASFs offerings to professional pest control operators.
The closing of the transaction will proceed after final regulatory approval.
About the Crop Protection division
With sales of EUR3,137 million in 2007, BASFs Crop Protection division is a leader in crop protection and a strong partner to the farming industry providing well-established and innovative fungicides, insecticides and herbicides. Farmers use these products and services to improve crop yields and crop quality. Other uses include public health, structural/urban pest control, turf and ornamental plants, vegetation management, and forestry. BASF aims to turn knowledge rapidly into market success. The vision of BASFs Crop Protection division is to be the worlds leading innovator, optimizing agricultural production, improving nutrition, and thus enhancing the quality of life for a growing world population.
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