Best Agrolife Ltd. (BAL), a producer of agrochemicals in India has introduced the acquisition of Sudarshan Farm Chemicals India Pvt. Ltd. (SFCL).
This acquisition includes acquiring 100% stake by way of money consideration, with an estimated enterprise worth (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 corporate mentioned in a regulatory submitting.
“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 corporate mentioned in an announcement.
“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,” mentioned Ashish Kapur, CEO, Invest Shoppe whereas 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 mentioned.
“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.
