United Phosphorus (UPL) has acquired a 51% stake in DVA Agro Do Brasil (DVA Agro Brazil), a Brazilian company, from DVA Group, Germany and other shareholders. The balance 49% will continue to be held by the existing shareholders of DVA Agro Brazil.
DVA Agro Brazil based out of Campinas, Sao Paulo state in Brazil is engaged in the production, marketing, selling and distribution of crop protection products and specialties in the Brazilian agrochemicals market. It has a formulation plant in Brazil with expansion plans currently under execution to build capabilities in different crop protection product categories, DVA Agro Brazil had net revenue of approx $130 million for the year ending December 31st 2010.
This marks UPL’s second entry into the Brazilian crop protection market. DVA Agro Brazil’s distinguished crop focus gives UPL access to larger addressable market in Brazil. Undoubtedly, UPL will also provide DVA Agro Do Brasil the additional capacity to achieve a new level, by expanding and allowing DVA to broaden their portfolio.
United Phosphorus is the largest Indian agrochemical company and is engaged in research, manufacturing, selling and distribution of agrochemicals and specialty chemicals across the globe.