Vertellus Specialties Announces Acquisition of MGK(R) Insect Repellent Business
INDIANAPOLIS, May 3 /PRNewswire/ — Vertellus Specialties Inc., a leading specialty chemicals company, today announced the acquisition of certain assets of the McLaughlin Gormley King Company’s (MGKÂ®) insect repellent business. Included in the acquisition are several MGKÂ® insect repellent products including DEET, plus associated end-use formulations, product registrations, and customer lists. The acquisition does not include any physical facility assets or personnel.
“The strategic rationale driving this transaction is two-fold,” said Rich Preziotti, President and CEO of Vertellus Specialties. “To begin with, the MGKÂ® insect repellent line enhances Vertellus long-standing leadership position in DEET manufacture by adding new components like MGKÂ® 326 and MGKÂ® 2007 repellent concentrate to our list of active ingredients.”
“In addition, MGK’s core strength in end-use formulations enhances our overall capabilities set,” continued Preziotti. “This newly combined insect repellent business delivers more value and more choices to customers than ever before.”
“Divesting our insect repellent business allows MGK to focus its efforts on developing insect control solutions in support of its core products business,” said MGK’s President Steve Gullickson. “We will continue to bring value and support to our customers, but with a more unified approach.”
Vertellus manufactures DEET at their facility in Greensboro, North Carolina and will continue to do so after the transaction. Vertellus is working closely with MGKÂ® to manage the transition and integration of all acquired assets into the Vertellus platform. In anticipation of the Northern Hemisphere’s summer season, Vertellus and MGKÂ® have pre-built a product inventory to complement Vertellus sizeable capacity for DEET production, ensuring a smooth transition and continuity of supply for customers around the world.
DEET is the widely preferred active ingredient in insect repellent products due to its superior effectiveness and attractive cost.
Both Vertellus and MGKÂ® have been leaders in navigating the DEET regulatory landscape for many years. By merging MGKÂ® and Vertellus repellent assets, Vertellus is well positioned to assist customers, particularly in the European Union, facing DEET-related regulatory challenges now and in the future.
About Vertellus Specialties Inc.
Vertellus is a specialty chemicals company focused on the manufacture of ingredients used in pharmaceuticals, personal care, nutrition, agriculture, and a host of other market areas affected by trends favoring “green” technologies and chemistries. Vertellus is the #1 global producer of pyridine and picolines, specialty pyridine derivatives, DEET, castor oil derivatives and systems, and citrate polymer additives and systems, and the world’s #2 producer of Vitamin B-3. Vertellus benefits from a technically advanced global manufacturing base and has approximately 700 employees. Vertellus is headquartered in Indianapolis, Indiana. For more information, visit www.vertellus.com.
Contact: Scott Smith Tel: 317-248-6517 Website: www.vertellus.com
SOURCE Vertellus Specialties Inc.