Mitsui swoops on Irish crop protection company

A SUBSIDIARY of one of the largest publicly traded companies in the world has swooped on an Irish crop protection company as part of its expansion in horticulture and arable crop markets.

Mitsui & Co, part of the Mitsui Group, has agreed to acquire AgriGuard, based in Dublin, which manufactures and distributes off-patent agro-chemicals for crops such as cereals and oilseed rape, mainly in Britain and Ireland.

The global market for agrochemicals is estimated to be growing by 4 to 5% per year. Off-patent products now account for 75% of the total, because the cost of developing new agents has risen in recent years.

Mitsui’s agri-science business aims to grow its sales to $1 billion within the next five years. The deal was made for “several billion yen” through a Belgian subsidiary of the Japanese company.

The acquisition will include the range of AgriGuard products with their associated intellectual property as well as the transfer of staff.

AgriGuard’s main brands are Setanta Flo, Asset, Avail, Blizzard, and Hatchet Xtra.

AgriGuard will trade alongside Mitsui’s Certis Europe business in Britain, but will continue to be managed separately.

AgriGuard managing director Brian Parker said, “This acquisition by Mitsui is very exciting and provides significant growth opportunities for AgriGuard especially in continental Europe.”

He said there will be no significant changes for AgriGuard’s current accounts and customers.

AgriGuard was founded in December, 1996.