Marrone Bio Acquires Jet Ag and Jet Oxide Product Lines; Significantly Expands Opportunity in Agricultural Bioprotection Market
Marrone Bio Innovations, Inc. (MBII)
Last marrone bio innovations, inc. earnings: 11/12 04:05 pm
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Source: GlobeNewswire
DAVIS, Calif., Sept. 11, 2019 (GLOBE NEWSWIRE) -- Marrone Bio Innovations Inc. (NASDAQ: MBII), a leading developer of bio-based products for pest management and plant health, has acquired from Jet Harvest Solutions all rights and assets to the Jet Ag and Jet Oxide product lines. Jet Ag and Jet Oxide are broad-spectrum products used both for control of fungal and bacterial diseases and as disinfectants. The transaction builds on a two-year relationship and prior distribution agreement between Jet Harvest and Marrone Bio. Going forward, the portfolio will be sold through Marrone Bio’s existing sales force and distribution network except for the post-harvest business, which has been licensed back to Jet Harvest Solutions. With gross margins in line with Marrone Bio’s current portfolio of products, the Jet Ag and Jet Oxide product lines are expected to add to the company’s revenues in 2019 and be accretive to earnings within two years. The purchase price for the assets is approximat
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