UPL acquires 3 Bayer brands for Rs 260 cr

United Phosphorus has acquired three crop protection brands from Bayer CorpScience AG for Rs 260 crore.

The company bought two insecticidal products and a herbicide from Bayer to expand its reach, United Phosphorus said in a statement to the National Stock Exchange.

As part of the agreement, Bayer CropScience has retained certain rights related to non-agricultural uses in strategic markets for these products.

The sale and purchase agreements were signed on August 29. The global sales figures of these two brands of Bayer CropScience are not known.

With the acquisition, UPL will enhance its product portfolio globally and would offer a broad portfolio of solutions to its customers.

While, for Bayer CropScience the decision to divest these products is in line with the company´s strategy to focus on higher-margin products and therefore streamlining the portfolio.

At present, UPL is the the largest domestic agrochemical player and among the top five generic players globally in this industry.

It is engaged in research, manufacturing and distribution of agrochemicals and specialty chemicals across the globe. The group´s revenue for the year ending March 2006 was in excess of Rs 2208 crore (about $480 million).

Bayer CropScience, a subsidiary of Bayer AG with annual sales of about ¤ 6 billion, is one of the world's leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and plant biotechnology.

The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications.

Bayer Crop­Science has a global workforce of about 19,000 and is represented in more than 120 countries.

UPL, with a strong technical strength and a number of speciality chemicals, is also a major exporter of agro chemicals. Currently, more than 20 per cent of the production of speciality chemicals from UPL are exported.