LIBERTYVILLE, Ill.-Valent BioSciences Corporation (VBC), the leader in bio-rational product development for agriculture, public health, and forestry worldwide, announced today it has signed a definitive agreement to acquire Pace International LLC (Pace), a global leader in the postharvest segment of commercial agriculture with operations in the US, Mexico, and South America. Previously VBC owned 25 percent of the company.
The acquisition adds another strategic platform to VBC's rapidly expanding global
Bio-rational business. 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. Postharvest products improve fruit quality and maintain nutritional value while allowing for longer storage, providing global reach to many types of high value crops. Postharvest losses can range up to 40-50 percent of all produce that is grown, depending on the crop and country.
Pace employs over 100 people worldwide. Roberto Carpentier, VP of Sales and
Marketing for the last 8 years, will become the new executive vice president and chief operating officer of Pace, reporting directly to Michael Donaldson.