American Vanguard Corp. (NYSE:AVD) announced that it will acquire all of the outstanding shares of Tyratech, Inc. (AIM: TYRU and TYR). During a special meeting of shareholders conducted on October 31, 2018, Tyratech’s shareholders approved both (i) an agreement and plan of merger and (ii) the cancellation of admission of Tyratech’s common stock to trading on the AIM market of the London Stock Exchange. Tyratech is a life sciences company focused on nature-derived insect and parasite control products. Prior to the transaction, American Vanguard held approximately 35% of the shares of Tyratech. The transaction, including de-listing of Tyratech shares from the AIM market, is expected to close on November 8, 2018. Further details of the deal were not disclosed.
Eric Wintemute, Chairman and CEO of American Vanguard, stated, “We are excited to have acquired Tyratech, which has spent over a decade developing non-toxic insecticides and green solutions for pest control. Their patented technology platform leverages synergistic essential oil combination to target invertebrate pest receptors that are not active in humans and other mammals. Thus, they are highly effective and safe for use around people and pets. This acquisition complements our Envance portfolio, which uses the same technology platform in consumer, professional and agricultural applications, and will enable us to expand our market into mosquito repellent, animal health and other sectors.”
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000? and Russell 3000? Indexes and the S&P SmallCap 600? Index. To learn more about American Vanguard, please reference the Company’s website at www.American-Vanguard.com.
The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.