Everstone Capital Partners II, a US$ 580 million fund managed by Everstone Capital, has invested Rs 150 crores in Crystal Crop Protection Private Limited, a company that is engaged in the business of pesticide formulations and is headquartered in Delhi.The capital raised will be primarily used to help Crystal further consolidate its position in the Indian market, strengthen its presence in the international markets, enhance its existing product portfolio, and explore inorganic growth opportunities in India and abroad.
Speaking to the media, Ankur Aggarwal, Managing Director, Crystal Crop Protection said, “We are pleased to partner with Everstone as they bring in deep operating capabilities of building successful businesses in India combined with invaluable global relationships in the investment and business community.”
Speaking to the media, Dhanpal Jhaveri, Partner and CEO, Everstone Capital added further, “India has the largest area under cultivation for many crops but productivity is significantly lower than world averages – with increased industrialization and urbanization, productivity improvements are a necessity to meet India’s food requirements. Crystal is well positioned to take advantage of this requirement and has an attractive business model backed by a respectable management team that can build Crystal into one of India's foremost crop protection and agri-services Company.”