Delhis Crystal Crop buys US brands

Delhis Crystal Crop buys US brands
Delhis Crystal Crop buys US brands

Delhi-based Crystal Crop Protection Ltd has acquired four insecticide and herbicide brands from US-headquartered diversified chemical company FMC Corporation. The acquisition of Furadan, Splendour, Metcil and Affinity Force brands will strengthen the agrochemical company's product portfolio, Crystal Crop said in a press release. Ankur Aggarwal, Managing Director, Crystal Crop, said: "We are open to more such inorganic growth opportunities.” The deal comes at a time when Crystal Crop is preparing to go public. The company received approval to float an initial public offering (IPO) last month from the Securities and Exchange Board of India (SEBI). Crystal Crop is looking to raise Rs 545 crore ($77 million) by issuing fresh shares in the IPO. The issue also includes a share sale by promoters as well as private equity firm Everstone Capital. Incorporated in 1994, Crystal Crop makes and sells agrochemicals, seeds and farm equipment. The company has five manufacturing units - two each in Haryana and Jammu and Kashmir, and one in Gujarat.

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