UPL acquires 49% stake in Thailand’s Grow Chemical

UPL Ltd.’s affiliate (Mumbai), UPL Global Ltd., has acquired a 49% stake in Grow Chemical Co. Ltd. (Bangkok), as per Chemweek.

The deal involves a cash investment of $760,000, which will be made through the subscription of fresh equity share capital of Grow Chemical. The acquisition is anticipated to be finalized on or before Dec. 31, 2025, pending the fulfilment of closing conditions.Grow Chemical specializes in sourcing materials both domestically and internationally, offering a range of chemicals, fertilizers and agrichemical products, including herbicides, insecticides, fungicides and plant nutrients within Thailand. The company reported a revenue of $7.4 million in 2024.UPL has expressed its commitment to leveraging this acquisition to accelerate growth in Thailand's agchems sector. The partnership will focus on joint research and development, enhanced distribution and strategic marketing efforts. UPL aims to align its initiatives with Thailand’s agricultural development goals, prioritizing sustainable farming practices.A key focus of the collaboration will be expanding Grow Chemical’s product portfolio and securing regulatory registrations to meet the evolving needs of farmers across Thailand.UPL is one of India’s largest agchem companies with a global presence. It has been pursuing overseas expansion through acquisitions and partnerships. In June this year, UPL’s affiliate Advanta Seeds acquired key corn assets from K-Adriatica (Loreo, Italy).In 2024, UPL announced the acquisition of Corteva Agriscience Inc.’s (Indianapolis, Indiana) solo mancozeb fungicide business outside China, Japan, South Korea and EU member countries.

mrchub.com