New Delhi [India], November 25 : Listed crop protection solutions company Dhanuka Agritech has signed an agreement to acquire international rights to the active ingredients Iprovalicarb and Triadimenol, the company informed stock exchanges on Monday.
These products were originally developed by Bayer AG, a global leader in agricultural input solutions and farming innovations. Dhanuka stated that this acquisition marks the beginning of its journey towards global market expansion.
With this deal, Dhanuka plans to extend its footprint to over 20 countries, including regions in Latin America, Europe, the Middle East, Africa, and Asia, including India.
"Under this acquisition, Dhanuka Agritech Limited will secure the rights to manufacture and sell Iprovalicarb and Triadimenol in more than 20 countries. This transaction also includes acquiring the global rights to the associated brand Melody (for Iprovalicarb), along with sub-brands such as Melody Duo, Melody Compact, Melodika, and others," the company stated in a stock filing.
"As part of the agreement, the companies have developed a transition plan to ensure seamless service, minimising disruptions for growers and customers worldwide. Additionally, Dhanuka will relocate the manufacturing of at least one of these products to India, leveraging the capabilities of its manufacturing facility in Dahej, Gujarat," the company added.
Iprovalicarb is a fungicide from the Carboxylic Acid Amides (CAA) class, used for managing diseases caused by Oomycetes species in horticultural crops.
Triadimenol is a well-established product widely used in seed treatment for cereals and cotton, either as a solo formulation or as part of seasonal treatment programmes. It is also utilised as a pre-mix in coffee cultivation.
The agreement is expected to enhance Dhanuka's market position, boosting both its topline and bottom-line growth through sales in India and international markets.
"Dhanuka is thrilled to partner with Bayer AG as we expand our presence in these strategic markets. This agreement not only strengthens our market position but also underscores our commitment to providing exceptional products and services to customers worldwide," said Harsh Dhanuka, Executive Director of Dhanuka Agritech Ltd.
Dhanuka Agritech has over 40 years of industry experience.
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