Kollant specializes in plant protection products for the non-crop sector.
Generic agrichemicals company MA Industries (Makhteshim Agan) (TASE: MAIN) has announced the acquisition via an overseas subsidiary of 60% of Italian group Kollant.
Kollant makes plant protection products, mainly for the non-crop sector. It had sales of nearly $30 million in 2005, in Italy and in other European countries.
Financial details of the transaction were not disclosed. Deals of this nature are usually carried out at a sales multiple of 0.08-1.0 for the acquired company, but it is likely that the price tag of the current deal was lower given the added value Makhteshim Agan brings to the Italian company in the shape of its marketing channels outside of Europe. It is estimated that the deal was done at a sales multiple of around 0.5, making the price a fairly low $10 million.
Published by Globes [online], Israel business news - www.globes.co.il - on May 8, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006