Marrone Bio Innovations (MBII) announces acquisition of all rights and assets to the Jet Ag and Jet Oxide product lines from Jet Harvest Solutions. The purchase price for the assets is ~$2.5M in cash, plus five yearly earn-out payments based on certain sales.
Jet Ag and Jet Oxide are broad-spectrum products used both for control of fungal and bacterial diseases and as disinfectants.
The Jet Ag and Jet Oxide product lines are expected to add to revenues in 2019 and be accretive to earnings within two years.
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