UPL’s latest acquisition to strengthen its fungicide portfolio

Global agrochemical major UPL Ltd. has announced the planned acquisition of Corteva Agriscience’s solo mancozeb global fungicide business outside of China, Japan, South Korea and EU member countries.
Mancozeb is said to be a protective fungicide, used to prevent plant diseases across a range of crops.
The acquisition will give UPL ownership of “Dithane,” the original global mancozeb brand, along with access to Rainshield technology, which enables crop protection in wet weather conditions, a statement from UPL said.
However, the company has not disclosed the cost of the acquisition.
The acquisition is only limited to Corteva’s solo formulations of Mancozeb, with Corteva retaining the ownership of its premix formulations. Subject to customery approvals, the transaction is likely to conclude in the first quarter of financial year 2025.
UPL further said that Mancozeb is an important tool to manage fungicide resistance.
“This acquisition is a meaningful milestone for UPL and for farmers, it strengthens our portfolio of solutions and leadership in the multisite fungicide market,” Christina Coen, Chief Marketing Officer of UPL said.
Source: Cnbctv18