UPL Global Ltd signs a purchase agreement with Grow Chemical Co Ltd., a Thai company

UPL Global Limited, a subsidiary of the Indian agrochemicals company UPL Ltd., has finalized an agreement to purchase 49 percent ownership share in Thailand's Grow Chemical Co Ltd. UPL will inject 0.76 million USD of new capital into the Thai company. The transaction is projected to be finalized by December 31, 2025, pending standard regulatory clearances.

Established in 2011 as a fully-owned division of Baka Company Ltd., Grow Chemical specializes in agricultural inputs. The company's product range encompasses various crop protection and nutrition solutions including specialized chemicals, fertilizers, weed control products, insect management solutions, disease prevention treatments, and plant growth supplements. Recent financial performance shows a downward trend, with the company recording 7.4 million USD in revenue for FY24, compared to 8.8 million USD in FY23 and 9.5 million USD in FY22.

This partnership between UPL Global and Baka Company is designed to accelerate the creation of advanced sustainable farming solutions for the Thai market. The cooperation will include collaborative research programs, shared distribution networks, and coordinated marketing activities. Both companies are also pursuing regulatory certifications and portfolio expansion initiatives that support Thailand's agricultural modernization objectives.

This investment is anticipated to boost UPL’s Asian market presence through partnerships with established regional enterprises. The alliance combines UPL's international research capabilities and global market access with Grow Chemical's domestic distribution network and local market knowledge, creating opportunities for enhanced market penetration and sustainable agricultural development in the region.