Swiss seed company Syngenta said Wednesday that it has agreed to pay $125 million for DuPont Professional Products' insecticide business, which supplies products for the professional turf, ornamentals and home pest control markets.
Syngenta AG said the acquisition will expand its lineup of products for golf course and lawn care professionals and ornamental growers, while also adding to his home pest control product portfolio.
Under the terms of the agreement, Syngenta will acquire the pest control brands Advion and Acelepryn and other intellectual property. The company will also have access to the related active ingredients and formulated products from DuPont through supply and licensing agreements.
Syngenta said the acquisition will help it increase profitability at its lawn and garden business. The deal is expected to close in the fourth quarter.
Shares of DuPont Co., formally known an E.I. DuPont de Nemours & Co., finished at $49.80 on Tuesday. That is down 8 percent from their 52-week high of $53.98 in early May.