Secret Site Map
Friday, October 31, 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

Three Industry Leaders Recognized at Univar International Reception

Univar Director Latin America Benjamin Gomez recognized three industry leaders at PestWorld’s International Reception, including Norm Cooper, recognized with the Global Ambassador Lifetime Achievement Award.

UPFDA Recognizes Contributions of Tommy Reeves at Board Meeting

Reeves recently completed a two-year term as UPFDA president where he was instrumental in establishing the future direction of the association.

Cope Named Director of Technical and Regulatory Services at Terminix

Dr. Stan Cope (retired Navy), who has been with Terminix since 2012, has been promoted.

P+L Systems Announces Acquisition

Group De Ceuster of Sint-Katelijne-Waver, Belgium announced the sale of its Environmental Care division to P+L Systems (Holding) UK of Knaresborough, UK, for an undisclosed sum.

Backed By Bayer Web Portal Relaunched

New Backed By Bayer is a a comprehensive customer-centric platform with new and expanded resources for pest management professionals.

x