Mumbai: Seed marketing company Advanta India Ltd today said it has acquired vegetable seeds business of Hyderabad-based Unicom Seeds Ltd for an undisclosed amount.
The acquisition would strengthen the company’s position in the vegetable seed market and increase its product portfolio, Advanta India said in a communique to the Bombay Stock Exchange.
“We hope to leverage the strong brand equity of Unicom, excellent breeding programs and outstanding production capabilities to strengthen the leadership position in this market segment,” Advanta India said.
Advanta India Ltd is a 100% subsidiary of United Phosphorus Ltd. It deals with the research, development, production and marketing of hybrid seeds.
Unicom has a strong presence in the domestic and export markets of vegetable seeds and is also engaged in custom production for key vegetable seed suppliers in Europe, Asia and USA.
Shares of Advanta India were at Rs1,700, up 9.55% on BSE during morning trade.