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Business and Asset Acquisitions
9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Business and Asset Acquisitions

21. Business and Asset Acquisitions – On January 10, 2019, the Company completed the acquisition of all of the outstanding shares of stock of two affiliated businesses, Defensive and Agrovant, which are located in Jaboticabal in the state of Sao Paul, Brazil. At closing the Company paid cash consideration of $20,679, which was net of cash acquired of $981, deferred consideration of $2,659 including contingent consideration dependent on certain financial results for 2019, and liabilities assumed of $17,083, including liabilities of $10,112 related to income tax matters. These companies were founded in 2000 and are suppliers of crop protection products and micronutrients with focus on the fruit and vegetable market segments. The acquisition was accounted for as a business combination and the total value of $40,424 has been preliminarily allocated as follows: product registrations and product rights $9,449, trade name $1,733, customer relationships $3,114, goodwill $14,268, working capital $8,072, fixed assets $404 and indemnification assets $3,384. The operating results of the acquired businesses are included in our condensed consolidated statement of operations from the date of acquisition.

On July 1, 2019, the Company completed a product acquisition for cash consideration in the amount of $7,293 and the assumption of a liability in the amount of $300, which was recorded at cost consisting of intangibles assets and inventory.                                                                                                                                                                                                                                                            

 

The Company paid E.I. DuPont et Nemours additional cash consideration in the amount of $3,564 related to one product line acquisition made at the end of 2018.