Japanese conglomerates Mitsui and Nisso jointly acquire 56% stake in Bharat Insecticides Limited in India
−− "The new relationship with Mitsui and Nisso will further strengthen BIL’s ability to deliver innovative crop protection products and support the sustainable growth of India’s agriculture sector."
Sep. 24, 2020
Bharat Insecticides Limited (“BIL”, Head Office: New Delhi;), a company specializing in agrochemical products, is now associated with Mitsui & Co., Ltd., ("Mitsui", Head Office: Tokyo) and Nippon Soda Co., Ltd., (“Nisso”, Head Office: Tokyo). Mitsui and Nisso have acquired 56% stake in BIL through a special purpose company co-founded by Nisso and Mitsui.
The BIL’s promoters will continue to hold balance shares in BIL. As a result of this transaction, BIL has become a group company of Mitsui & Co., Ltd., The new relationship with Mitsui and Nisso will further strengthen BIL’s ability to deliver innovative crop protection products and support the sustainable growth of India’s agriculture sector.
Speaking on the announcement, Mr. Sat Narain Gupta, Founder Promoter, BIL said, “This is a momentous occasion for us, BIL was started 43 years back with just 2 products and since then, BIL has come a long way. We hope that being part of Mitsui group will take BIL to the next level.” The other promoters, Mr. MP Gupta and Mr. RP Gupta expressed their excitement on this development and are confident that this tie-up will help BIL to grow at a faster pace.
L to R- Mr. Shinya Michino, Deputy Vice President- Sales; Mr. RP Gupta, Promoter; Mr. Kimihide Kondo, Joint Managing Director, Mitsui; Mr. SN Gupta, Founder Promoter; MP Gupta, Promoter and Mr. Dharmesh Gupta, MD, BIL
On this occasion, Mr. Dharmesh Gupta, who has assumed responsibility as Managing Director, BIL said, “BIL’s strong presence in the agrochemicals market in the country will be complimented by Mitsui and Nisso’s diverse experience in the agriculture space. With this alliance, BIL will be in a unique position to leverage the synergies in area of product development with access to Mitsui’s global assets and Nisso’s world class R&D capabilities. The alliance will not only help BIL to grow in Domestic market but will also enable to expand its presence in International markets”.
Officials Signing the contract
As part of this association, there are few additions to the BIL’s leadership team, Mr. Kimihide Kondo, GM – Mitsui has joined BIL as Joint MD and Mr. Masanori Katsura has joined as the CFO and are based out of New Delhi. Mr. Kimihide Kondo shared Mitsui’s vision and confidence on consumption led growth story of Indian economy and mentioned,
“Although Mitsui has been active in the rapidly growing Indian agrochemical industry, this investment into BIL provides us the exciting opportunity to contribute in mainstream manufacturing and distribution of plant protection products in India. Japan and India share a strong cultural and business relationship and in the same spirit, we are committed to bringing more products and technologies to Indian agriculture through our global footprint. BIL, through its aggressive business approach, committed employees and strong industry relationships allows us to gain a strong base in India as India expands its influence on global agrochemical industry.”
About Bharat Insecticides Limited：
BIL started its operations in 1977 and has steadily developed its presence in the Indian market along with Bharat Rasayan Limited (“BRL”, Head Office: New Delhi, Listed on BSE and NSE), which is a Bharat Group company and the producer of active ingredients for agrochemicals. BIL has pan India presence and provides high-quality agrochemicals and services to farmers. BIL has wide range of products which are made available to farmers through a network of 26 warehouses, 4,000 plus distributors and large number of retailers. BIL’s team of Agronomists works closely with farmers and provides them advice on crop protection enabling them to get better yields.
About Mitsui & Co., Ltd.：
Mitsui & Co., Ltd is a global trading and investment company with annual revenue of USD 63 billion. Mitsui has a diversified business portfolio that spans approximately 65 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has over 45,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio.
Mitsui has built trust-based relationships with its customers and partners around the world in the business of agricultural inputs that contribute to improving the productivity and quality of agricultural produce through its group companies: Certis USA (a global leader of bio-pesticides), Spiess Urania in Germany (a global leader in copper products), Certis Europe and Ouro Fino Quimica Brazil. Mitsui also plays an active role in the intermediates business of agrochemicals and works closely with many agrochemical manufacturers in India and globally through its strategic relationships.
About Nippon Soda Co., Ltd.：
Since our founding in 1920, Nippon Soda has accumulated unique technologies and know-how, and provided highly functional and high-value-added chemical products in such diverse fields as agriculture, pharmaceuticals and specialty chemicals.
Furthermore, as a company that handles chemical substances, we have always been mindful of the doctrine of responsible care and have driven business activities with attention to the environment, safety and health. Going forward, Nippon Soda will contribute to the building of a rich society that realizes the dreams of the next generation through innovative technologies and products.
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