Dhanuka Agritech Acquires Bayer Fungicides for Rs 165 cr
By Rediff Money Desk, New Delhi Jan 21, 2025 16:28
Dhanuka Agritech has acquired global rights for two Bayer fungicides, Melody and Triadinenol, for Rs 165 crore, expanding its reach in international markets.
New Delhi, Jan 21 (PTI) Agrochemical maker Dhanuka Agritech on Monday said it has acquired international rights for two fungicides from Germany's Bayer AG for Rs 165 crore.
The deal includes rights to Bayer's Melody brand and its sub-brands for Iprovalicarb, along with manufacturing and sales rights across Latin America, Europe, the Middle East, Africa and Asia.
Dhanuka also acquired rights for Triadinenol, a seed treatment fungicide widely used across cereals, cotton, and coffee.
The company plans to shift its manufacturing of Iprovalicarb to its Dahej facility within the next 2-3 years to improve cost efficiency, an official statement said.
This acquisition is a turning point for Dhanuka as we enter the international markets with Bayer AG's trusted brands. Our focus is on creating cost-effective crop solutions that resonate with farmers worldwide," Dhanuka Agritech Executive Director Harsh Dhanuka said.
The products generated revenue of Rs 220 crore in 2023 and "we expect EBITDA margins of 12-15 per cent post-integration," he said.
Iprovalicarb, which targets diseases in horticultural crops, holds 50 per cent market share with limited generic competition. Triadinenol has 20-25 per cent market share in Brazil, a key growth market with high-entry barriers.
The company plans to adopt a business-to-business model, partnering with local distributors internationally while leveraging its existing network in India.
The deal includes rights to Bayer's Melody brand and its sub-brands for Iprovalicarb, along with manufacturing and sales rights across Latin America, Europe, the Middle East, Africa and Asia.
Dhanuka also acquired rights for Triadinenol, a seed treatment fungicide widely used across cereals, cotton, and coffee.
The company plans to shift its manufacturing of Iprovalicarb to its Dahej facility within the next 2-3 years to improve cost efficiency, an official statement said.
This acquisition is a turning point for Dhanuka as we enter the international markets with Bayer AG's trusted brands. Our focus is on creating cost-effective crop solutions that resonate with farmers worldwide," Dhanuka Agritech Executive Director Harsh Dhanuka said.
The products generated revenue of Rs 220 crore in 2023 and "we expect EBITDA margins of 12-15 per cent post-integration," he said.
Iprovalicarb, which targets diseases in horticultural crops, holds 50 per cent market share with limited generic competition. Triadinenol has 20-25 per cent market share in Brazil, a key growth market with high-entry barriers.
The company plans to adopt a business-to-business model, partnering with local distributors internationally while leveraging its existing network in India.
Source: PTI
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