April 2, 2014 14:00 UTC

AG Global Inks Deal with Parry, an Indian Conglomerate for Long-Term Neem Supply

HOUSTON--(BUSINESS WIRE)-- AG Global, one of North America’s largest natural and organic fertilizer manufacturers with products available in retail outlets and distribution centers across North America, has signed an agreement to secure neem and neem products from Parry America, a United States-based subsidiary of EID Parry India Limited (Parry).

“After three years of in-house product development and research conducted with the Vineland Research and Innovation Centre (Ontario) and the Guelph Turfgrass Institute (University of Guelph, Ontario), we are now ready to move forward with neem as a key component of AG Global’s product offering” said Brian Iversen, AG Global CEO. “This partnership with Parry America is a direct response to positive research findings and the search for new and environmentally friendly fertilizer and pesticide solutions. We will be able to incorporate a consistent supply of high-quality neem into our natural and organic product lines, further improving product quality and efficacy.”

In response to growing concerns about health, safety and environmental sustainability of traditional pesticides from consumers, businesses and governments, the AG Global and Parry partnership has created an all-natural solution for the home grower and the landscaping communities to combat pests in lawns and turf grass.

“Working with AG Global, we have the best partner to develop and cultivate sales opportunities in the home and garden market for neem-based products in North America,” said Narasimha Rao Kothapalli, CEO of Parry America Inc. “AG Global’s commercial skillset and ability to bring enironmentally-friendly agricultural products to market have resulted in enormous growth and response from all market sectors. This new generation of products improves our ability to be responsive to the changes in our environment in a responsible manner in North America, and throughout the world.”

This agreement brings together two global, agricultural companies in a long-term relationship and connects consumers to Parry’s natural pesticide solutions through AG Global’s distribution channels.

The evergreen neem tree (Azadirachta indica) is part of the mahogany family and grows predominantly in the drier regions of India. Its seeds can be used as a naturally occurring fertilizer and pesticide. Scientific studies have shown that neem is anti-fungal, antibacterial and antimicrobial. The leaves, flowers, seeds, resin and bark of the tree have been used for thousands of years as an ingredient in food, medicine and toiletries, for industrial and agricultural applications. Parry is the world’s largest manufacturer of Azadirachtin products, which are extracted from neem kernels.

About AG Global

AG Global, a portfolio company of Riverstone Holdings, is one of the largest natural and organic fertilizer manufacturers in North America. The company’s vision is to provide highly effective, non-toxic, biodegradable and eco-friendly turf fertilizers and similar products for use in commercial farming and home gardening. AG Global is based in Houston, Texas with sales, production and warehousing facilities in Ontario, Canada. More information about AG Global’s products is available at www.agglobalco.com.

About Parry America/EID Parry Limited/ MURUGAPPA GROUP

Parry America Inc. promotes bio-pesticides and natural products in organic and integrated pest management programs. Parry America Inc. is the subsidiary of EID Parry (India) Ltd., a public company headquartered in Chennai, South India that has been in business for more than 225 years. The Murugappa group has annual revenues of $ 4.2 billion and has 28 businesses operating in diverse fields such as agriculture, engineering and financial services. Today, Parry markets more than 1.5 million tons of fertilizers and helps improve agriculture productivity through products and scientific application techniques. More information about Parry is available at http://www.parryamerica.com/

About Riverstone Holdings

Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $27 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London and Houston, the firm has committed approximately $25.6 billion to 106 investments in North America, Latin America, Europe, Africa and Asia. More information about Riverstone is available at www.riverstonellc.com.

Contacts

Pierce Communications
Penny Vavura, 518-427-1186
penny@albanypr.com


Source: AG Global