10 July 1998 10:58 [Source: ICIS news]
LONDON (CNI)--Rhone-Poulenc (R-P) is planning to sell its FF850m ($139m) garden care business to the world leader, Scotts of the US, the company announced Friday.
R-P's business trades under the name Rhone-Poulenc Jardin in France and Celaflor in Germany and Austria. Scotts will take over all of its commercial activities in Germany, Austria, Belgium, Spain, France and Italy, as well as R-P Jardin's two manufacturing plants located in France. The deal will also include a long-term agreement giving Scotts rights to new products produced by R-P's crop protection subsidiary R-P Agro.
R-P Jardin is Europe's leading company in the garden care business with an overall 13% market share. Its brands include KB, Fertiligene, Celaflor and Nexalotte. It has a workforce of 420, all of whom are expected to transfer to Scotts.
Most of Scotts' $1.2bn sales are in the North American and UK markets, where its key brands are Scotts, Miracle Gro, Hyponex and Levington.
R-P's chairman of plant and animal health, Alain Godard, said the sale would enable the group to focus its resources on strengthening its businesses based on crop protection products, services for agricultural production and the development of innovative technologies. "The leading positions already held by Rhone-Poulenc Jardin will be significantly reinforced by Scotts product range which has led them to become world leader on this market," he added.
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