Valent acquires Pace International
Valent BioSciences Corp. (VBC), a biorational product developer for agriculture, public health and forestry worldwide, has signed a definitive agreement to acquire Pace International, which has operations in the United States, Mexico and South America. Previously, VBC owned 25 percent of the company.
Headquartered in Seattle, Wash., Pace specializes in the development and commercialization of coatings, sanitizers and postharvest disease management products for use in many crops including citrus, stone fruit, pome fruit, potatoes and others.
“The Pace assets bring VBC the unique opportunity to leverage our extensive product portfolio and pipeline further downstream into new and exciting areas that will redefine the postharvest business segment,” said Michael Donaldson, VBC president and CEO.
Biorationals are products typically derived from biological origins that are highly specific in their activity while providing economic, health and/or environmental benefits. Biorational products include microbial insecticides, fungicides and nematicides, as well as plant growth regulators used in production agriculture and for managing plant growth, quality and stress in crops, according to VBC.
Pace employs more than 100 people worldwide. Roberto Carpentier, vice president of sales and marketing for the last eight years, will become the new executive vice president and chief operating officer of Pace, reporting directly to Donaldson.
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