Coromandel International to Acquire Controlling Stake in NACL Industries
Mumbai: Coromandel International Limited, a leading agri-solutions provider, has signed definitive agreements to acquire a majority stake in NACL Industries Limited, a prominent Indian Crop Protection player.
Coromandel will acquire 53% shareholding in NACL Industries for Rs 820 crores, with an open offer to acquire up to 26% of the equity share capital. The transaction is subject to regulatory approvals and is expected to be completed over the next few months.
The acquisition will position Coromandel as a leading player in the Indian Crop Protection industry, expanding its scale, accelerating entry into contract manufacturing, and fast-tracking new product commercialization.
NACL Industries operates technical and formulation plants in Andhra Pradesh, with a centralized R&D facility near Hyderabad. The company has a strong brand presence in domestic formulations and a formidable partnership with global players.
Coromandel’s Executive Chairman, Arun Alagappan, stated, “This acquisition is a defining moment for Coromandel’s Crop Protection business, driving sustainable growth and market leadership.”
Managing Director and CEO, Sankarasubramanian, added, “The acquisition will strengthen Coromandel’s presence in the Crop protection business, leveraging management expertise, credit access, sourcing capabilities, and diversified presence in international markets.”
