Key Takeaways:
- Strategic Acquisition: UPL Corporation Ltd. has acquired Corteva Agriscience‘s global mancozeb fungicide business outside select regions.
- Enhanced Portfolio: The deal strengthens UPL Corp’s leadership in the multisite fungicide market and adds key technologies.
- Focused on Sustainability: This acquisition emphasizes UPL Corp’s commitment to sustainable agriculture and global food security.
- Continued Access to Innovation: UPL Corp gains ownership of the renowned Dithane® brand and access to Rainshield™ technology.
- Smooth Transition Promised: UPL Corp is dedicated to ensuring a seamless transition for customers and enhancing support for growers.
Overview of the Acquisition
UPL Corporation Ltd. (UPL Corp), a leading provider of comprehensive and sustainable agricultural solutions, has announced the completion of its acquisition of the solo mancozeb fungicide business from Corteva Agriscience. This acquisition excludes operations in China, Japan, South Korea, the UK, Switzerland, and EU member countries.
Enhancing UPL Corp’s Market Position
The acquisition includes the globally recognized mancozeb brand, Dithane®, which has been a cornerstone in disease management for farmers worldwide. Additionally, UPL Corp will benefit from Rainshield™ technology, which provides enhanced crop protection under wet weather conditions, further solidifying its position in the multisite fungicide market.
Statements from Leadership
Christina Coen, Chief Marketing Officer at UPL Corp, highlighted the strategic importance of the acquisition: “We recognize mancozeb’s vital role not just in protecting crops, but in safeguarding global food security and transforming farmer livelihoods. This acquisition cements our leadership in the multi-fungicide market and enables us to continue adding to our ever-growing portfolio of farmer-first solutions, and expanding the use of this vital molecule for years to come.”
Details of the Deal
The transaction specifically involves Corteva’s solo formulations of mancozeb, with Corteva retaining ownership of premix formulations. UPL Corp’s acquisition includes the full regulatory scientific dossier for mancozeb, encompassing all data, registrations, and trademarks related to Corteva’s solo mancozeb products, along with a license to the Rainshield™ technology.
Commitment to Seamless Transition
UPL Corp is committed to a smooth transition for all stakeholders, particularly focusing on continuity for growers who rely on these products. The company aims to enhance sustainable crop yields and contribute to future-proofing global food security through its newly expanded product lineup.
UPL Ltd. Recent News
SOLASTA Bio & Impetus Ag Are Winners Of The NPP Challenge (2024/03/20)
UPL Corp and Radicle Growth announced SOLASTA Bio as the winner of the Radicle Natural Plant Protection Challenge, earning a $1 million investment. Impetus Ag was the runner-up, securing a $750,000 investment. SOLASTA Bio uses nature-inspired peptide insect control products, while Impetus Ag creates novel proteins that bind toxins to pests.
The Radicle NPP Challenge by UPL (2024/02/15)
UPL Corporation Ltd. and Radicle Growth have selected four pioneering startups as finalists for “The Radicle Natural Plant Protection (NPP) Challenge by UPL,” investing a substantial US $1.75M in natural and biological solutions for crop protection. The finalists offer unique nature-inspired solutions to protect crops from various biotic stresses. The challenge received 237 applications, demonstrating the enthusiasm and innovation in the biological solutions space. The winning companies will receive substantial financial investments and invaluable mentorship from senior executives at both UPL and Radicle to accelerate their business and technical development. “The Radicle Natural Plant Protection (NPP) Challenge by UPL” represents a significant step forward in sustainable agricultural practices.
Acquiring Corteva’s Mancozeb Business (2024/01/10)
UPL Ltd. announced its acquisition of Corteva Agriscience’s solo mancozeb global fungicide business, excluding China, Japan, South Korea, and EU countries, gaining the Dithane® brand and Rainshield™ technology to enhance its crop protection portfolio. This strategic move strengthens UPL’s leadership in the multisite fungicide market, addressing fungicide resistance and supporting sustainable crop yields and food security, with the deal expected to close in Q1 of FY24-25.
Inaugurates Global NPP Research Center in Mexico (2023/11/17)
UPL and Radicle Growth Launch $1.75M Challenge to Invest in Crop Protection Startups (2023/06/02)
UPL and Radicle Growth have announced “The Radicle Natural Plant Protection Challenge,” which will invest $1.75 million in early-stage companies pioneering natural and biological solutions for crop protection. The challenge will provide the winner with a $1 million investment and $750,000 to the second-place recipient. The winning companies will receive guidance from senior executives of both UPL and Radicle to fast-track their business and technical endeavors. Entrepreneurs around the world are invited to apply via the Radicle Growth website. A panel of industry experts will assess pitches from 4-6 finalists selected from the global applicant pool on a “Pitch Day” in March 2024.
Strengthens Developing World Food Production at Earthna Summit (2023/03/31)
UPL Ltd. participated in the Earth Summit in Doha to create a ‘food security’ program that aims to build new sustainability pathways for hot and arid environments. The program focuses on developing farmer resilience, capacity building, and creating demonstration plots for climate-resilient crops. Jai Shroff, Group CEO of UPL Ltd., believes that improving farmer resilience is the key to achieving food security. The commitment to enhancing food security shows a new urgency to address food security and a new energy among developing nations to agree on approaches to deliver accurate results.
Image provided by UPL
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