New Delhi: Agro-chemicals producer United Phosphorus Ltd (UPL) has bought out Dutch pesticides maker Agrichem from a unit of Punjab Chemicals and Crop Protection (Punjab Chemicals).
In a communique to the Bombay Stock Exchange on Monday, UPL said that its “overseas subsidiary has entered into an agreement with SD Agchem Europe, a subsidiary of Punjab Chemicals, to acquire 100% in the Dutch company Agrichem along with all tangible and intangible assets, IPR, product registrations, brands, distribution network and manufacturing facilities.”
UPL, however, did not disclose financial details of the acquisition.
“Agrichem will give a new and enhanced market access in European countries. Agrichem has an exciting registrations portfolio with products that will be complimentary to UPL’s existing portfolio in Europe,” the filing added.
The Netherlands-based Agrichem is engaged in producing and marketing of herbicides, insecticides and fungicides registered in several European countries like the Netherlands, Belgium, the UK, France, Germany, Ireland, Denmark, Italy, Slovakia, Czech Republic, Belarus and Switzerland, it said.
The firm has a crop protection registration department, in-house research and development and quality control facilities and its own formulation facilities in the Netherlands, the filing said.
Mumbai-based UPL is a global generic crop protection, chemicals and seeds company.
Shares of the company were trading up by 0.41% at Rs122.35 on the BSE at 03:00 pm.