American Vanguard Corp., a Newport Beach-based chemical company, said it bought a product line from Germany’s BASF AG.
Terms of the deal weren’t disclosed. American Vanguard Chief Executive Eric Wintemute called it the company’s largest yet.
American Vanguard acquired BASF’s Counter insecticide line and a patented way to deliver the granules onto crops.
Counter had $25 million in sales in 2005. It is used primarily in Latin America to protect crops including corn, bananas, sugar beets and coffee against pests.
The deal includes BASF’s Lock ‘n Load, a mechanized way to spread granular insecticide first marketed in the late1980s.
It’s similar to American Vanguard’s SmartBox, a computerized system that applies chemicals to fields without exposing farmers to harmful agents.
“We are quickly emerging as a leading owner and provider of safe granular delivery technology,” Wintemute said.
American Vanguard has an unusual strategy: It breathes new life into products others don’t want.
The company buys or licenses old product lines other companies want to divest, invests in research and marketing,and then turns them into steady sellers.
American Vanguard counts yearly sales of about $200 million.
