UPL completes the acquisition of Arysta LifeScience for USD 4.2 billion

UPL Limited announced the completion of its acquisition of Arysta LifeScience Inc. from Platform Specialty Products for USD 4.2 billion. The completion of the transaction, which was signed in July 2018, marks a major step in the history of UPL.

"The acquisition further strengthens UPL’s position as a global leader in agricultural solutions, with approximately USD 5 billion in combined sales and EBITDA of around USD 1 billion," the company notes.

UPL also launched its new purpose, called ‘OpenAg’. It stands for open-minded partnerships and creating win-win partnerships, thus broadening the space to create value along a wider food production network.

"Through our purpose of OpenAg, we aim to transform agriculture by creating an open agriculture network that feeds sustainable growth for all," said Jai Shroff, Global CEO.

Shroff said, "Farmers need technologies that help them to be more resilient and that enhance performance in light of the climate change and the sophisticated food systems. We believe that UPL can offer a portfolio of technologies in the field from crop protection to innovative hybrid platforms. Our combined bio-solutions pipeline signals the dawn of a new era in sustainable agriculture as a part of integrated pest and nutrition management programmes."

The transaction received unconditional regulatory approvals from authorities across the globe.

Platform Specialty Products Corporation on May 31, 2018, announced the completion of the acquisition by its division of the development segment for agriculture Arysta LifeScience of Etec Crop Solutions in New Zealand.