Tassie insecticide producer acquired
A major Japanese chemical company has acquired a natural insecticide producer in Tasmania.
Firms: Norton Rose Fulbright (Sumitomo Chemical); Herbert Smith Freehills (Botanical Resources Australia)
Deal: Sumitomo Chemical acquired Botanical Resources Australia.
Key players: The Norton Rose Fulbright team advising Sumitomo was led by partner James Stewart with support from partners Raymond Lou, Martyn Taylor, Helene Lee, Elisa de Wit, Matthew Ellis and Justin Lucas, special counsel Andrew Willekes, Jamie Griffin and Nicki Milionis, senior associates Jacqueline Plant, Nicole Bury and Lauren Ritchie and lawyer Sai Ma.
Deal significance: Japanese conglomerate Sumitomo Chemical acquired Tasmanian business Botanical Resources Australia, a major supplier of the plant-based insecticidal ingredient pyrethrins.
Sumitomo acquired 82.9 per cent of the shares in Botanical Resources Australia and its affiliated companies. The other 17.1 per cent is owned by McLaughlin Gormley King Company, a subsidiary of Sumitomo.
Norton Rose Fulbright said in a statement that the acquisition would help Sumitomo create a more stable supply system for pyrethrins.
Lead partner James Stewart said: “Norton Rose Fulbright’s global footprint and depth of experience in agribusiness were essential to delivering a seamless cross-border service to Sumitomo Chemical on a transaction that will enhance its own production performance and product offering.”