Best Agrolife Limited Announces Acquisition of Best Crop Science Pvt. Ltd.
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New Delhi, Delhi, India (NewsVoir)
Yet in an another strategic move, One of the fastest growing Agro chemical company Best Agrolife Limited acquires strength of Backward Integration supported with robust R&D Synthesis in manufacturing of Active Ingredients of Herbicides, Insecticides & Fungicides by acquiring Best Crop Science Pvt Ltd. The board has stamped with its approval for the same on September 2, 2021. This acquisition will further help Best Agrolife Ltd. in diversification of risk and strengthening of its manufacturing base with addition of another State-of-the-art Technical Manufacturing Unit situated at Gajraula, Distt. - Amroha, Uttar Pradesh.
Best Crop Science Pvt. Ltd. holds 85+ Active Ingredient Manufacturing Licenses which includes some highly advance import substitutes like Dinotefuran & Pyraclostrobin also which have come out of Patent in recent past. Recently Best Crop Science Pvt. Ltd. got Central Insecticide Board & Registration Committeeâs nod for indigenous manufacturing of Trifloxystrobin Technical u/s 9(3) also. With this new addition, the company becomes the first agrochemical company in India to manufacture and market Trifloxystrobin Technical, a fungicide which has enormous demand in the domestic and global markets of North America, Europe, Asia-Pacific, South America Middle East, and Africa. This acquisition will help Best Agrolife Limited to increase its revenue by 40% on the back of these in-demand products.
For this recently announced three-way combination Patent of Best Agrolife Limited - Ronfen also, this acquisition is going a play a very synergistic role as Best Crop Science Pvt. Ltd. manufactures all the three Active Ingredients - Pyriproxyfen, Diafenthiuron & Dinotefuran which are there in the composition of this patented formulation.
âWith in house strong R&D Support, much backward Integration Facilities supported by separate Autoclave Hydrogenation Plant, Product Registrations & An Access to huge markets, this acquisition comes out with a strong synergistic equation between the two companies which will not only bring higher efficiency and growth in turnover alone but also will minimize dependency on import and will thus reflect a substantial impact on EBITDA Margins also of Best Agrolife Limited. We will be able to fill critical service gaps with this acquisition & this will enable us to utilise our expertise in increasing the reach through our strategic alliances with leading agrochemical companies of India & through an extensive network of 3000+ distributors and dealers. Of course, one of the by-products of this M&A would be the distinct ability to serve the market better. We intend to play a vital role in the effective Pest & Disease Management by providing best farming solutions, improving the yield and profitability of farmers across the globe,â says Mr. Vimal Alawadhi, Managing Director - Best Agrolife Limited.
Best Crop Science Pvt. Ltd. has emerged as a leading supplier of crop protection products. It is an ISO 9001:2000 certified and is having an annual turnover of Rs. 347.79 Cr. with EBITDA of 32.86 Cr. which comes as 9.45% (as per Audited Balance sheet dated 31 March 2021) and currently operates a highly equipped State-of-the-art Technical Manufacturing Unit Indulged in Backward Integration of Technical Grade Pesticides & this unit was acquired from Chemtura Chemicals India Pvt. Ltd., a subsidiary of Arysta Life Science (USA) owned by Platform Specialty Products Corporation in 2016.
Disclaimer: This story has not been edited by Outlook Staff and is auto-generated from news agency feeds. Source: PTI