The acquisition of Corteva Agriscience's Mancozeb fungicide business would help UPL strengthen its position in key markets, especially in Latin America.
The agriscience major plans to acquire Corteva Agriscience’s global mancozeb fungicide business outside of China, Japan, South Korea, and EU member countries.
The acquisition will give UPL ownership of Dithane, the original global mancozeb brand which has provided farmers with a reliable disease management solution, as well as access to Rainshield technology which enables crop protection in wet weather conditions.
Mancozeb is a highly effective protective fungicide used to prevent plant diseases across a range of crops, including rice, soybean, wheat, onions, potatoes, and other vegetables and fruits.
Through this acquisition, UPL may also acquire customers who the company can leverage to 'cross-sell' other products.
The transaction is subject to customary approvals and expected to conclude Q1 of FY24-25.
Source: NDTV Profit
