UPL is reportedly in preliminary discussion with Telangana based Kaveri Seeds Company to purchase potential stake in Kaveri Seeds. The company is aiming to strengthen its seed portfolio. The acquisition of Kaveri Seeds will enhance the company’s GMO seed portfolio at an affordable valuation.
The seeds portfolio of Kaveri Seeds includes cotton, maize, hybrid rice, pearl millet, sunflower, mustard, tomatoes, okra and chillies and many others. The company has a 15.50% market stake in cotton followed by maize where it holds a market share of 10.30%.
UPL is global player of crop protection products has customer base in 123 countries. It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, USA, UK, Vietnam and Zambia.