Secret Site Map
Saturday, October 25, 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

ScottsMiracle-Gro Signs Definitive Agreement to Acquire Action Pest Control

The Scotts Miracle-Gro Company announced that its subsidiary EG Systems, Inc., doing business as Scotts LawnService, has signed a definitive agreement to acquire the assets of Action Pest Control, Evansville Ind., which ranked 56th on the 2014 PCT Top 100 list, with annual revenues of $11.6 million. The transaction, which is expected to close by January 2015, would mark Scotts’ first acquisition of a structural pest control business.

NPMA Pinnacle Award Presented to Tom Fortson

Fortson, longtime president of Terminix Service, Columbia, S.C., was announced as recipient of the NPMA Pinnacle Award, NPMA’s highest honor.

NPMA Looks to the Future During PestWorld Opening Ceremony

More than 3,000 industry professionals from 80-plus countries have traveled to Orlando, Fla., for PestWorld ’14. The Opening Ceremony, sponsored by Bayer, featured musical act Rhythm Extreme.

Convention Q&A: Billy Tesh

PCT Editor Jodi Dorsch sat down with the NPMA president to learn more about the association's new initiatives, rapid changes that are occuring and the future of NPMA — including its search for a new EVP.

Slideshow: PestWorld 2014

Photos taken by the PCT staff from the first few days of NPMA PestWorld 2014

x