Crystal Crop Protection Boosts Earnings with Bayer Acquisition

Crystal Crop Protection has acquired the herbicide Ethoxysulfuron from Bayer AG, marking its 13th acquisition. The deal is expected to boost earnings by 20% as it strengthens Crystal's distribution in Asia. This follows previous acquisitions from major agricultural firms, emphasizing Crystal's growth in agriculture innovation.

Agrochemical leader Crystal Crop Protection announced its latest acquisition on Sunday. The company has acquired the herbicide active ingredient Ethoxysulfuron from Germany-based multinational Bayer AG, aimed at selected Asian markets. This strategic move is projected to increase Crystal's earnings by 20 percent.

The acquisition comprises Bayer's 'Sunrice' trademark and the associated mixture products containing Ethoxysulfuron, including all relevant registrations. Ethoxysulfuron is an essential herbicide used to control broad-leaved weeds and sedges in rice and cereal crops.

This acquisition is Crystal's 13th strategic purchase and its second deal with Bayer. Crystal previously acquired Bayer's Indian seed portfolio in 2021. Crystal Crop Protection's Managing Director, Ankur Aggarwal, stated, "By leveraging our strong distribution network and manufacturing capabilities, we will ensure these solutions reach farmers efficiently across India, South Asia, and South-East Asia."

The firm plans to locally produce cost-effective solutions for farmers in India, Vietnam, Bangladesh, Thailand, and Pakistan. This recent acquisition extends Crystal's expansion in crop protection, seeds, and farm mechanization. The deal follows acquisitions from major global agricultural companies like Syngenta, FMC, BASF, and Dow-Corteva, though financial terms remain undisclosed.

(With inputs from agencies.)