United Phosphorus Ltd. (UPL), a leading agrochemical firm, has completed the acquisition of Arysta LifeScience (Arysta) for USD 4.2 billion from Platform Specialty Products.
According to reports, completion of this transaction was signed in July 2018. It would further strengthen the position of UPL as a global leader in agricultural solutions. The deal will apparently lead to around USD 1 billion of annual growth and a combined sale of about USD 5 billion.
Adding to it, this transaction has obtained regulatory approvals from authorities around the world and the firm has already announced country, regional and global leadership teams for the new integrated entity.
UPL’s international arm, UPL Corporation, was allegedly responsible for making the acquisition, and a new board has been set up for the entity, bringing in backgrounds and experience with varied skills for driving the company forward.
The new UPL would be focused on research and development and would have opportunity for benefiting from notable synergies. It would be well-positioned for achieving sustainable growth, have a healthy mix of high growth geographies and high value crops along with a vertically integrated company.
UPL has a long-term vision to be a world leader in the global food network and in order to achieve this goal, it has launched ‘OpenAg’, which stands for open minded partnerships and building win-win partnerships. Therefore widening the space for creating value with a broader food production network.
Jai Shroff, UPL global Chief Executive Officer, said, “The Company aims to transform agriculture through its purpose of OpenAg, by developing an open agriculture network which would feed sustainable growth for all.
