American Vanguard Announces Acquisition of Tyratech, Inc.
November 05 2018 - 9:00AM
Business Wire
American Vanguard Corp. (NYSE:AVD) announced that it will
acquire all of the outstanding shares of Tyratech, Inc. (AIM: TYRU
and TYR). During a special meeting of shareholders conducted on
October 31, 2018, Tyratech’s shareholders approved both (i) an
agreement and plan of merger and (ii) the cancellation of admission
of Tyratech’s common stock to trading on the AIM market of the
London Stock Exchange. Tyratech is a life sciences company focused
on nature-derived insect and parasite control products. Prior to
the transaction, American Vanguard held approximately 35% of the
shares of Tyratech. The transaction, including de-listing of
Tyratech shares from the AIM market, is expected to close on
November 8, 2018. Further details of the deal were not
disclosed.
Eric Wintemute, Chairman and CEO of American Vanguard, stated,
“We are excited to have acquired Tyratech, which has spent over a
decade developing non-toxic insecticides and green solutions for
pest control. Their patented technology platform leverages
synergistic essential oil combination to target invertebrate pest
receptors that are not active in humans and other mammals. Thus,
they are highly effective and safe for use around people and pets.
This acquisition complements our Envance portfolio, which uses the
same technology platform in consumer, professional and agricultural
applications, and will enable us to expand our market into mosquito
repellent, animal health and other sectors.”
About American Vanguard
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops and markets products
for crop protection and management, turf and ornamentals management
and public and animal health. American Vanguard is included on the
Russell 2000® & Russell 3000® Indexes and the Standard &
Poors Small Cap 600 Index. To learn more about American Vanguard,
please reference the Company’s web site at
www.american-vanguard.com.
In its public commentary, the Company may discuss
forward-looking information. Except for the historical information
contained in this release, all forward-looking statements are
estimates by the Company’s management 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181105005494/en/
American Vanguard CorporationWilliam A. Kuser,
949-260-1200Director of Investor
Relationswilliamk@amvac-chemical.comorThe Equity Group Inc.Lena
Cati, 212-836-9611Lcati@equityny.comwww.theequitygroup.com
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