Monday, Mar 17 2025 | Time 13:25 Hrs(IST)
Business EconomyPosted at: Mar 12 2025 10:21PM


Coromandel acquires 53 pc controlling stake in NACL

Chennai, Mar 12 (UNI) Coromandel International Limited, one of India’s leading agri-solutions provider, on Wednesday signed definitive agreements to acquire majority stake in NACL Industries Limited (NACL).
Under the pact signed in Chennai today, Coromandel will acquire 53% shareholding in NACL for consideration of Rs 820 crores at Rs 76.7 price per share from the current promoter KLR Products Limited.
Coromandel also proposes to make an open offer to the public to acquire upto 26% of the equity share capital of the company as per the SEBI Takeover Regulations.
The proposed transaction is subject to regulatory approvals and is likely to be consummated over next few months, a company statement said tonight.
The proposed acquisition will position Coromandel as one of the leading players in the Indian Crop Protection industry with a wide range of technicals and pan India presence in domestic formulation business.
This will also help in expanding Coromandel’s scale, accelerating its entry into contract manufacturing business, fast-tracking new product commercialization and expanding its product portfolio.
NACL Industries operates Technical and Formulation plants in Andhra Pradesh, besides having centralized R&D facility near Hyderabad. NACL’s subsidiary has also recently invested in Technical
grade facility at Dahej, capable of manufacturing Active Ingredients. It has established formidable partnerships with key global players, offering contract manufacturing services for over two decades.
The company has strong brand presence in domestic formulations segment with pan India footprint.
Company Executive Chairman Mr. Arun Alagappan said "This is a defining moment for Coromandel International’s Crop Protection business. Our long-term strategy has always been centered on driving sustainable growth and market leadership. The decision to acquire NACL Industries is a natural extension of company’s growth vision. By combining our extensive distribution network and deep industry expertise with NACL’s manufacturing capabilities, diversified product portfolio and large formulations presence, we are setting the stage for a significant increase in operational scale."
This acquisition not only expands our scale but also enables us to tap into critical customer segments and secure strategic CDMO relationships.”
UNI GV 2210
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