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Valagro completed the acquisition of Sri Biotech Laboratories India Limited
Dec. 4, 2015
Valagro S.p.A.
ItalyFollow
ItalyValagro, recently announced that it has completed the acquisition of the company Sri Biotech Laboratories India Limited. SriBio is an Indian company nationally recognised for its work in developing alternative organic and eco-sustainable solutions for plant nutrition and protection against disease and insect pest attacks on farming crops.
With the entry of SriBio, Valagro enters new market segments (biocontrol), new technologies (fermentation) and strengthens its presence in the Indian sub-continent.
The acquisition of SriBio confirms the financial strength of the Valagro Group and its desire to continue in the path of growth and internationalisation with the aim of taking a leading role in the major growth trends in world agricultural production and to always meet its clients’ needs best, in line with its business strategy that puts customers at the centre of all activity.
Established in 1994, SriBio develops eco-friendly solutions to address the major pests/diseases affecting farmers in the Indian sub-continent through intensive research and development and multiple collaboration initiatives at national and international level. The company is engaged in the research areas related to the improvement, nutrition and crop protection, and through two manufacturing facilities, serves more than 10 million farmers in 13 Indian states. In addition, Sri Biotech is the first company to register bio control products with the Central Insecticides Board and offers twenty products with organic certification issued by APEDA via the Vedic organic certification Agency.
The acquisition of SriBio is, to date, the largest transaction completed by Valagro and one of the most significant investments in 2015 by an Italian company in India.
"This acquisition accomplishes an important step in the growth strategy of Valagro" – stated Giuseppe Natale, Group CEO Valagro - "Thanks to the entry of SriBio into the Group, in fact, Valagro will become a truly global company operating at 360° in the sector of biologicals. In particular, with SriBio, we gain access to new market segments, such as bio-control, and new technologies, such as fermentation, which will allow us to develop new products, enhance existing ones and strengthen our role in the world scenario. Besides opening the doors to the Indian market, it will also provide us with a production and logistics platform for the whole of Asia, enabling us to expand our presence in a strategic geographical area for us.”
"SriBio and Valagro have always shared a strong commitment to research and development focussing on innovation and environmental sustainability, as the foundation for business growth." - commented Dr. K.R.K. Reddy, founder and CMD of SriBio, which will continue to provide support alongside Valagro - "I am sure that the exchange of know-how among our people will develop important and effective synergies to the benefit of both companies and their customers, thanks to an expansion of the offer of integrated solutions and a widening of the reference markets."
Source: valagro
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