Partnership to help growers in the large and growing export market control pests, improve plant health, and increase crop yields while delivering economic and environmental value
DAVIS, CA and Guadalajara, Mexico – May 9, 2017 – Agri-Star, a company of Albaugh, LLC group and a leading distributor of crop protection products in Mexico and Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), a leading provider of effective and environmentally responsible pest management and plant health products, announced today the companies have signed an exclusive agreement to distribute and market two MBI bioinsecticides, GRANDEVO® and VENERATE® in Mexico. These advanced broad-spectrum bioinsecticides offer protection against chewing and sucking insects and mites including thrips, whiteflies, Asian citrus psyllid, armyworms and other pest caterpillars, Lygus bug, mealybugs and soil-inhabiting pests.
Mexico is a major producer and exporter of fruits and vegetables, with exports to the U.S. alone totaling US$19.3 billion in 2013-15, according to the USDA Economic Research Service. Mexican growers of exported produce must meet the increasing demands of consumers, retailer preferences and government restrictions on chemical and pesticide residues, making Mexico the second largest user of biopesticides in North America according to “Biopesticides Market – North America Industry Growth, Trends and Forecasts (2017 – 2022).”
Dr. Pam Marrone, MBI’s Founder and Chief Executive Officer, commented, “We are proud to add Agri-Star to our growing network of partners. The combination of their market knowledge and expertise and our proprietary microbial technology will provide Mexican growers with badly needed solutions for insect control. Our effective and environmentally responsible biological products help growers around the globe control pests, improve plant health, and increase crop yields while decreasing chemical residues on food and fighting the development of pest resistance. We look forward to delivering economic and environmental value to Mexican growers as we continue to expand our presence in this large and growing market.”
Carlos Betancourt, Marketing Leader of Agri-Star said, “Grandevo and Venerate are excellent additions to our growing portfolio of specialty products that help growers achieve their production goals in a sustainable way, while providing economic advantages and a return on investment to growers.”
Agri-Star is one of the leading agricultural distributors in Mexico, headquartered in Guadalajara, Jalisco and is part of Albaugh, LLC the largest global privately-held producer of post-patent herbicides, fungicides, insecticides and plant-growth regulators, In México, Agri-Star is an important participant in the copper market and a leader with Hi Bio Technology.
About Marrone Bio Innovations
Smart. Natural. Solutions.
Marrone Bio Innovations, Inc. (NASDAQ: MBII) strives to lead the movement to a more sustainable world through the discovery, development and promotion of biological products for pest management and plant health. Our effective and environmentally responsible solutions help customers operate more sustainably while controlling pests, improving plant health, and increasing crop yields. We have five products for agriculture on the market (Regalia®, Grandevo®, Venerate®, Majestene®, and Haven™), and also distribute Bio-tam 2.0® for Isagro USA in the western U.S. MBI also markets Zequanox® for invasive mussels for water markets. We have a proprietary discovery process, a rapid development platform, and a robust pipeline of pest management and plant health product candidates. At Marrone Bio Innovations we are dedicated to pioneering better biopesticides that support a better tomorrow for users around the globe. For more information, please visit www.marronebio.com.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertain-ties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing MBI’s views as of any subsequent date. Examples of such statements include statements regarding sales of the Company’s products, including GRANDEVO and VENERATE, in Mexico and other markets, the potential benefits of the Company’s products, and MBI’s efforts with respect to expansion of its product labels. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company’s products, any difficulty in marketing MBI’s products in Mexico, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers, and adverse decisions by regulatory agencies and other relevant third parties. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. MBI is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.
Marrone Bio Innovations Contacts:
Julie Versman, Sr. Director of International Business
Ruben Ramos, Manager of Latin America Business
Telephone: +1 (530) 750-2800
MBI Investor Contact:
James Palczynski, ICR
Telephone: +1 (203) 682-8229