Sumitomo Chemical India (SCIL) has executed definitive agreements for acquiring 85% equity shares and controlling stake (on fully diluted basis) in Barrix Agro Sciences, a Bangaluru based company engaged in the business of developing and providing to farmers pheromone traps and chromatic sheets. It is also engaged in the business of bio-products and micronutrients. The transaction is subject to customary closing conditions and approvals.
The target company is in manufacturing and selling of pest monitoring, trapping and crop nutrition solutions and research and development of pheromone based products. Sumitomo Chemical India (SCIL), the acquirer company, is in crop protection business. The acquisition will substantially enlarge SCIL's product range including green chemistries in a larger measure. The acquisition is in alignment of SCIL's strategy to build a more sustainable portfolio of green chemistries and offer Integrated Pest Management (IPM) and Integrated Plant Nutrition Management (IPNM) products and solutions to farmers. Through its established marketing and sales network of traditional channel and digital channels and available investment resources, SCIL will be able to provide guidance to the target company's business to grow at a faster pace.
Sumitomo Chemical India was established in 1913 to manufacture fertilizers from sulfur dioxide emitted from smelting operations at the Besshi copper mine in Niihama, Ehime Prefecture, with the aim of solving environmental problems caused by emissions.
| Company Name | CMP |
|---|---|
| UPL | 636.20 |
| BASF India | 4431.60 |
| PI Industries | 3424.30 |
| Bayer CropScience | 4927.35 |
| Sumitomo Chemical | 539.05 |
| View more.. | |
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