Valent BioSciences, Pace International and Valent U.S.A.’s New Three-Way Agreement
Valent U.S.A. to market Pace’s preharvest products as part of last year’s $65 million acquisition.
March 4, 2013
Valent BioSciences Corp. (VBC) has announced that Valent U.S.A. Corp. will manage the marketing and sales of Pace International’s preharvest line within the U.S. The products include Raynox, Raynox Organic and RainGard, among others.
The move is a three-way agreement between the companies following VBC’s acquisition of Pace International for $65 million in December of last year. As part of the transition, Pace will continue to support their preharvest products outside the U.S. while managing global sales for its industry leading line of postharvest products.
“We are pleased to bring this line of quality products into our rapidly expanding portfolio of VBC biorationals,” said Andy Lee, executive vice president and Chief Operating Officer of Valent U.S.A. “Given our strong position in the pome fruit and stone fruit markets, this move provides excellent growth opportunities for these brands. These complementary products enhance the broad base of value-based solutions we provide to our customers.”
Pace Executive Vice President and Chief Operating Officer Roberto Carpentier says the realignment helps Pace focus fully on the postharvest market.
“By joining VBC and the Sumitomo Chemical Company organization, we have immediately expanded our capacity and our reach,” said Carpentier. “The move of our preharvest products to Valent BioSciences, with distribution and local marketing by Valent U.S.A., is a perfect example of an area where we can gain efficiencies without sacrificing our customer service or satisfaction. With strong ties to the industry and world-class technical knowledge, the VBC and Valent U.S.A. teams are ready to take these valuable grower tools to new heights while Pace can be fully committed to our growing postharvest business.”
The companies are working together to ensure a smooth business transition for customers.
Source: Valent BioSciences