New Delhi : Agro-chemical firm Crystal Crop, which soon plans to launch its Rs 1,000-crore IPO, on Monday announced acquisition of four brands from American company FMC Corporation for an undisclosed amount.
This acquisition will boost the company’s revenue by around Rs 100 crore annually, sources said.
The company’s revenue stood at Rs 1,285 crore during 2016-17 fiscal. In the first nine month of 2017-18 fiscal, its revenue was at Rs 1,071 crore.
This is Crystal Crop’s third acquisition in 2018. The first was a chemicals plant from Cytec India Specialty Chemicals and Materials Private and the second was Indian sorghum, pearl millet and fodder seeds business from Syngenta India.
Crystal Crop said that the acquisition of brands — Furadan, Splendour, Metcil and Affinity Force — from the FMC Corporation will strengthened its insecticide and herbicide portfolio.
“We believe in acting as an enabler to Indian farmers to improve their farming income and this acquisition is a step in that direction.
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