Steve Lawson of the Dallas office recently represented Valent U.S.A. Corporation, a subsidiary of Japan's Sumitomo Chemical Co., Ltd., in the substantial sale of all of the business and assets of one of its subsidiaries, Valent GL, formerly known as "Green Light." The transaction took the form of an asset sale to Scotts, the lawn-and-garden-care products company. The products involved in the transaction included consumer pesticides and weed-control products.
In addition to the asset sale, the deal included assignment and licenses of trademarks, an interim administrative services agreement, a toll manufacturing agreement, and a long-term supply and development agreement. Financial terms were not disclosed.