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ARYSTA LIFESCIENCE FINALIZES FES GROUP ACQUISITION
Mar. 8, 2011
Source: Arysta LifeScience news release
Arysta LifeScience has acquired a majority of the shares of the FES Group in Russia. The transaction received approval from the Russian Federation Federal Antimonopoly Service on January 27, 2011.
"Arysta LifeScience has evolved into a high-performance company by maintaining its focus on identifying innovative products and formulations and ensuring that customers in our targeted growth markets have access to these products," said Wayne Hewett, President and CEO, Arysta LifeScience Corporation. "By combining our global strength with the capabilities of the FES Group distribution network and their strong presence with agro-holdings, we will be able to more effectively provide customers and distributors in Russia with an expanded selection of products and solutions."
"The acquisition of the FES Group will bring further value-added solutions to our customers in Russia and adds to the entrepreneurial spirit and customer focus of Arysta LifeScience," said Kevin Smith, President of Arysta LifeScience S.A.S. and Business Unit Head Europe. "Together, we now have the opportunity to service the market with an expanded product portfolio and geographic footprint, enhanced technical capabilities, and strengthened supplier relationships."
"The leadership and staff of the FES Group are very excited to be part of the Arysta LifeScience identity in the European region," said Alexander Mikhaylov, CEO FES Group and owner of the remaining shares in the group of companies. "Our combined strength offers a very compelling proposition for Russian customers and distributors."
The FES Group was founded in 1996 as a distributor of agro chemical products in Russia. The extended and unique range of products combined with the cost-efficient distribution network, have developed the FES Group into a leadership position in the agro-chemical business in Russia and more particularly in Central & South Russia. The headquarters of the company are located in Stavropol, 1500 km south of Moscow.
Headquartered in Tokyo, Japan, Arysta LifeScience is the world's largest privately held crop protection and life science company with 2010 revenues of JPY113 billion (US$1.3 billion). An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products in harmony with the needs of global partners.
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