Crystal Crop buys 3 brands from Syngenta
Agrochemical company Crystal Crop Protection Ltd has acquired three insecticide and fungicide brands from Swiss agrochemical and seeds major Syngenta AG.
Delhi-based Crystal Crop said in a statement that it has acquired Proclaim, Tilt and Blue Copper brands in India from Syngenta. It didn’t disclose the size of the deal.
Rafael Del Rio, MD at Syngenta India, said the Competition Commission of India has approved the sale of these brands while approving the global acquisition of Syngenta by ChemChina.
Chinese state-owned chemical giant ChemChina had completed the acquisition of Syngenta AG for over $43 billion in 2017.
Crystal Crop, which is backed by private equity firm Everstone Capital, said the acquisition will strengthen its presence in the pulses, cotton, rice, wheat, vegetable and grapes markets in India.
Ankur Aggarwal, MD, Crystal Crop Protection, said: “The inclusion of high-equity brands in our portfolio will strengthen us to provide best-in-class crop protection solution to farmers and thus increase their farm productivity.”
This deal marks the fourth acquisition by Crystal Crop in 2018.