Tokyo-based Arysta LifeScience has acquired majority stake in Devidayal Sales Limited (DSL), an Indian distributor of pesticides, agrochemicals and micronutrients.
“The acquisition of DSL provides Arysta LifeScience with a platform for rapid entry into India, the third largest crop protection market in Asia,” said Soo Keong Tan, Arysta LifeScience business unit head, South Asia and China, in a press statement.
“Arysta LifeScience expects to capitalise on DSL’s professional skill to accelerate the registration and introduction of our proprietary products and technology to the Indian market. In addition, we see significant opportunity to leverage DSL formulation and pack capabilities to better serve our customers outside India,” he added.
DSL is a formulator and marketer of agrochemicals and micronutrients for the Indian and international markets. Operating from primary offices in Mumbai and Vadodara, India, the company has a distributionnetwork of over 7,000 channel partners across the country.
Avendus Capital was the advisor to the shareholders of Devidayal sales in this transaction.