UPL Limited announces the completion of its acquisition of Arysta LifeScience Inc. from Platform Specialty Products for $4.2 billion. The completion of the transaction, which was signed in July 2018, marks a major step in the history of UPL. The acquisition further strengthens UPL’s position as a global leader in agricultural solutions, with approximately $5 billion in combined sales.
In pursuit of its long-term vision to be a world leader in the global food network, UPL also launched its new purpose, called OpenAg. The name stands for open-minded partnerships and creating win-win partnerships, thus broadening the space to create value along a wider food production network.
“Through our purpose of OpenAg, we aim to transform agriculture by creating an open agriculture network that feeds sustainable growth for all,” said Jai Shroff, global CEO of UPL. “UPL will offer broader choice, greater value and increased sustainability to secure the world’s food supply. With a diverse portfolio and enhanced global reach, we believe that the new UPL will be among the most innovative, exciting and admired companies in our industry.
“Farmers need technologies that help them to be more resilient and that enhance performance in light of climate change and sophisticated food systems,” Shroff continued. “We believe that UPL can offer a portfolio of technologies in the field from crop protection to innovative hybrid platforms. Our combined biosolutions pipeline signals the dawn of a new era in sustainable agriculture as a part of integrated pest and nutrition management programs.”
The transaction received unconditional regulatory approvals from authorities across the globe. The company has already announced global, regional and country leadership teams for the integrated entity. Integration is running ahead of schedule, and the entire management team is focused on value creation and securing synergies post-closing.
UPL is making the acquisition through its international arm, UPL Corporation Ltd., and a new board has been constituted for the company, bringing in a wealth of experience with varied skills and backgrounds to drive the organization forward.