American Vanguard Corporation said on Monday that its subsidiary, AMVAC LATAM, had acquired Punto Verde, a distributor in Guayaquil, Ecuador, in a move aimed to bolster its product portfolio in Latin America.
However, the company did not disclose any financial details of the transaction.
“We are pleased to have completed the acquisition of Punto Verde in Ecuador, which is the seventh largest agricultural market in LATAM. While not a sizable transaction (this will add about five percent to our total LATAM sales), we see this as an important path for market access in South America through a well-managed distribution business,” Peter Eilers, Managing Director of American Vanguard’s international operations, said in a press release.
AMVAC LATAM has a key presence in the Latin American agricultural sector and it has become a leader in the commercialization of crop protection products.
“Punto Verde is an excellent fit for AMVAC in their commitment to a high level of ethics, quality, service and professionalism. We are confident the experience and market knowledge of this company will serve as the ideal platform upon which we can increase our participation in Ecuador. This acquisition provides an important addition to our expanding Green Solutions business, as we anticipate development of our portfolio of AMGREEN bio-rational solutions through Punto Verde,” Gerardo Suárez, General Manager of AMVAC LATAM, said.
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