Secret Site Map
Wednesday, April 16, 2014

Home News MGK Sells Majority Interest to Sumitomo

MGK Sells Majority Interest to Sumitomo

Supplier News

MGK has sold a majority interest in the company to Sumitomo Chemical of Tokyo, Japan, a longtime shareholder and partner.

| December 18, 2012

MINNEAPOLIS, Minn. — MGK announced that it has sold a majority interest in the company to Sumitomo Chemical of Tokyo, Japan, a longtime shareholder and partner.

Founded in 1902, Minneapolis-based MGK has partnered with Sumitomo Chemical, a multinational chemical giant in basic chemicals, petrochemicals and life-sciences since the 1970s. Sumitomo Chemical first became an MGK shareholder in 1989.

This current transaction, a stock purchase between Sumitomo Chemical and the Gullickson family, further solidifies this long-term partnership between organizations. “MGK has been a growing and profitable venture for many years, and Sumitomo Chemical’s increased participation gives us continued access to new chemistries and new technologies for insect control,” said MGK President Steve Gullickson. 

Steve Gullickson
Gullickson announced that MGK will remain focused on its core business strategies under Sumitomo Chemical. “They are raising their investment because of our team’s success. We anticipate that our enhanced partnership will better position MGK to make life healthier by creating responsible products that protect people and their environments from the impact of insects.”

 “We’re pleased that Mr. Gullickson has agreed to continue to serve MGK in his current role. He has led his company to strong growth in the past decade, and we look forward to his continued leadership,” said Ryo Sato, executive officer of Sumitomo Chemical.

The Gullickson family, majority shareholders for four generations, remains a minority shareholder in MGK, and is optimistic about future prospects for the company.

MGK, one of the first companies to commercially develop naturally-derived pyrethrum into insecticide, becomes a subsidiary of Sumitomo Chemical, one of a handful of successful international companies sharing that status. MGK and its subsidiaries employ 250 people at its facilities in North America, Europe, Africa and Australia. 



 

 

Top news

More Mazdas Recalled Due to Spider Problem

The latest recall involves 42,000 Mazda6 midsize sedans from the 2010-12 model years, and equipped with the 2.5-liter, four-cylinder engine.

Photos: Bed Bugs vs. Bat Bugs

Additional photos from Dr. Michael Potter for the August PCT feature 'Holy Cow...Bat Bugs and Bird Bugs.'

Win a Copy of the New PCT Commercial Pest Management Book

Enter your name for a chance to win a copy of this new industry resource focused on treating a variety of commercial accounts.

Allgood Announces Corporate Promotions; Acquisition of Rich Exterminators

The company’s promotions are part of its strategic growth plans. Rich Exterminators is a Lawrenceville, Ga.-based company founded by Howard Rich in 1989.

A Look at Bed Bug Look-Alikes

The IPM Institute of North America has a review of five commonly encountered pests, including bat bugs (pictured), that can be misidentified as bed bugs.