American Vanguard® Announces US Acquisition of Envoke® Brand Herbicide From Syngenta

Rhea-AI Summary

American Vanguard Corporation (NYSE:AVD) announced the acquisition of rights to Envoke® herbicide from Syngenta Crop Protection, LLC. This includes the product registrations and trademarks for Envoke in the United States. The two companies will collaborate to ensure a smooth transition during the EPA registration transfer. Envoke is effective in controlling stubborn weeds, making it a beneficial addition to AMVAC's product portfolio aimed at key crops like cotton and sugarcane. Financial terms of the deal were not disclosed.

Positive

• Acquisition of Envoke herbicide strengthens AMVAC's product portfolio in core crops.
• Envoke enhances AMVAC's offerings for managing difficult-to-control weeds.
• Collaboration with Syngenta ensures a smooth transition during EPA registration.

Negative

• None.

American Vanguard® Corporation (NYSE:AVD) announced today that its principal operating subsidiary, AMVAC® Chemical Corporation (AMVAC), has entered into agreements with Syngenta Crop Protection, LLC, to acquire rights to Envoke® herbicide. The acquisition includes end-use product registrations and trademarks for Envoke herbicide in the United States.

Syngenta and AMVAC will work together over the next several months until the US Environmental Protection Agency registration has officially transferred to facilitate an orderly transition to maintain quality customer service in all domestic geographies. The financial terms of the transaction were not disclosed.

Envoke is an HRAC/WSSA Group 2 post-emergent herbicide for use in cotton, sugarcane, and transplanted tomatoes for control of certain broadleaf weeds, sedge, and grass weeds delivering effective control of many troublesome weed species, including many of those missed by glyphosate. Envoke is an ideal tank-mix partner for a broad spectrum of control and provides cost-saving growth regulator effect, allowing plants to focus energy on fruit development.

Scott Hendrix, AMVAC Senior Vice President, US and Canada Crop Sales and Application Technology, stated, “The addition of Envoke to the AMVAC portfolio allows AMVAC to strengthen our portfolio in core crops and provide growers with unique herbicide solutions for management of difficult to control weeds. This acquisition demonstrates our commitment to these key markets and complements our existing technologies to better serve our customers.”

About American Vanguard

American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection, horticulture management, and public health applications. 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 based on 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.

About AMVAC

Since 1945, AMVAC® Chemical Corporation has successfully served the results-driven global markets through development, manufacturing, and marketing products for agricultural, commercial, and turf use. AMVAC is committed to protecting public and animal health and safeguarding the food we consume from damaging pests and disease while enhancing the overall quality of the environment where we live and work. www.amvac.com

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FAQ

What is the significance of American Vanguard's acquisition of Envoke herbicide?

The acquisition strengthens AMVAC's portfolio in core crops, providing unique solutions for weed management.

Who did American Vanguard acquire the Envoke herbicide rights from?

American Vanguard acquired the rights from Syngenta Crop Protection, LLC.

What will be the impact of the Envoke acquisition on AMVAC's market position?

The acquisition is expected to enhance market position by offering effective solutions for weed control in crops.

Are the financial terms of the Envoke acquisition disclosed?

No, the financial terms of the transaction were not disclosed.

When will the EPA registration for Envoke be transferred to AMVAC?

The transfer of the EPA registration is anticipated to take place in the coming months.