Feb 17, 2015

Arysta, Platform deal becomes official

Platform Specialty Products has completed its previously announced acquisition of Arysta LifeScience for approximately $3.51 billion.

According to a news release, Wayne Hewett, president and CEO of Arysta LifeScience, has become Platform’s president, joining Martin E. Franklin and Dan H. Leever as part of Platform’s Office of the Chairman.

In his new role, Hewett will lead the agrochemical businesses and oversee Platform’s ongoing operations. Flavio Prezzi, formerly responsible for the Arysta LifeScience operations in Latin America, was appointed COO of Platform’s newly created agrochemical segment.

The closing of this acquisition marks Platform’s third acquisition within the agrochemicals operating segment following the acquisitions of the Agriphar Group on Oct. 1, 2014, and Chemtura AgroSolutions on Nov. 3, 2014.

Platform’s new combined agrochemical business, which is expected to uniformly operate under the Arysta LifeScience trade name, will be run as a vertically integrated agricultural chemicals segment with expected sales of approximately $2.1 billion.

“With the close of this acquisition, we are eager to capitalize on the unique growth opportunities that will emerge from having Arysta LifeScience, Agriphar and Chemtura AgroSolutions under one umbrella, counting on the support of our combined team of professionals around the world,” Hewitt said.

The new business operates in more than 125 countries.