INSUBCONTINENT EXCLUSIVE:
MUMBAI: Crystal Crop Protection, backed by PE firm Everstone Capital, is close to acquiring some key brands of Philadelphia-based chemicals
brands that are sought to be acquired would include Furadan, Splendour, Metcil and Affinity Force, sources told ET
The acquisition will help the Indian RD-based crop protection manufacturing and marketing company strengthen its insecticide and herbicide
portfolio.
Crystal Crop declined to comment on the acquisition
It recently received final observations from SEBI regarding the DRHP it filed for raising 1,000 crore via an IPO, comprising a fresh issue
of up to 545 crore and an offer for sale of up to 455 crore.
According to the DRHP, net proceeds of the IPO will be utilised toward
prepayment/ repayment of certain working capital facilities, acquisitions, and other strategic initiatives and general corporate
into paddy, maize and sugarcane (Furadan and Furadan ultra), while Affinity Force will give an edge in the wheat segment as it controls some
of the most difficult weeds
The first was a chemicals plant from Cytec India Specialty Chemicals Materials, and the second the Indian sorghum, pearl millet and fodder
seeds business from Syngenta India
