Best Agrolife Ltd. (BAL), a manufacturer of agrochemicals in India has announced the acquisition of Sudarshan Farm Chemicals India Pvt. Ltd. (SFCL).
This acquisition involves obtaining 100% stake through cash consideration, with an estimated enterprise value (EV) of ₹139 crore.
“The cash outflow for Best Agrolife Ltd will be to the tune of ₹9.5 crore after considering the net working capital and other liabilities,” the company said in a regulatory filing.
“BAL expects to gain significant synergies with this acquisition in the area of R&D and brand. With this move, BAL aims to capitalize on SFCL’s robust R&D capabilities, IP portfolio, and backward-integrated technical manufacturing expertise,” the company said in a statement.
“Best Agrolife Ltd. (BAL) is making bold moves in the agrochemical industry towards making enhancements to its market position and managing growth. The acquisition of Sudarshan Farm Chemicals, primarily for R&D and the creation of new business roles is aimed at growing the brand business more effectively,” said Ashish Kapur, CEO, Invest Shoppe while commenting on the acquisition.
“This is an indication of BAL’s forward looking commitments to innovation and sustainable growth in the agrochemical industry. The acquisition of SFCL can be a game-changer for BAL,” he said.
“BAL has also created a new Chief Business Officer (CBO) role underscoring the necessity of managing a sustainable growth. The appointment of Sanjeev Kharbanda as CBO and Vikas Jain as Chief Financial Officer (CFO) marks a significant enhancement of the company’s leadership team,” he added.
Published - March 29, 2024 11:00 pm IST
