Crystal Crop Protection acquires I&B Seeds to boost vegetable and flower seed segment

Crystal Crop Protection Limited has announced its 12th acquisition, acquiring I&B Seeds, a prominent player in the flower and vegetable seeds market having a leadership position in Marigold seeds with Indus and SPS brands. This acquisition will enable Crystal to diversify its seeds business and strengthen its presence in the high-value vegetable and flower segments, positioning the company as a formidable player in the industry.

By expanding into this segment, Crystal aims to provide farmers with access to high-quality vegetable and flower seeds that can enhance yield and profitability.I&B Seeds is a leader in the flower and vegetable seeds market, known for its strong focus on R&D and high-quality seed products. The company is the market leader in Marigold seeds with Indus and SPS brands and has a strong presence in Tomato, Chilies, Sweetcorn and Cucumber. With over 600+ dealers across India and export operations in countries like the United States, Egypt, Bangladesh, Thailand, and Sri Lanka, I&B Seeds has a robust global presence. 

Commenting on the acquisition, Mr. Ankur Aggarwal, Managing Director of Crystal Crop Protection Limited, stated, ″This acquisition marks a pivotal moment in our growth strategy. At Crystal, we are deeply committed to the well-being of our farmers. By expanding into the vegetable and flower seed segments, we are not only diversifying our offerings but also enhancing our ability to provide farmers with high-quality seeds that can significantly increase their incomes. Our focus is on empowering farmers with innovative solutions that improve yields and profitability, ensuring they have access to the best resources for their cultivation needs. I&B Seed’s expertise in the flower and vegetable seeds market, combined with our strong portfolio in field crops, will allow us to better serve the agricultural community and contribute to sustainable farming practices across India.″

Crystal’s current seeds portfolio has farmer’s preferred brands like Proagro, Sadanand, Surpass, and Dairy Green across field crops like cotton, maize, pearl millet, mustard, fodder, wheat, berseem, and sorghum. With the addition of Indus and SPS Brands with the acquisition of I&B Seeds vegetable and flower segments, Crystal will further diversify its product offerings and expand its reach to more farmers. The new business is expected to boost Crystal’s seeds division, contributing to a 30% increase in its topline growth.

Mr. Praveen Noojibail, Managing Director of I&B Seeds, stated, ″This acquisition is a great opportunity for Crystal Seeds to combine I&B Seed’s legacy in flower and vegetable seeds with Crystal’s extensive resources and distribution network. The size and strength of Crystal will help accelerate the reach of innovative and high-quality seeds to farmers across India and beyond, ensuring better yields and profitability.″

Mr. George Ball, Chairman, W. Atlee Burpee Company and Partner in I&B Seeds, also stated that it will be a great opportunity for I&B Seed’s R&D to reach farmers at a larger level and help them produce better crops.

Crystal has been actively pursuing inorganic growth through strategic acquisitions. This marks the company’s twelfth acquisition overall and the fifth in the seeds business. Previous acquisitions include the Sadanand cotton seed portfolio from Kohinoor Seeds in 2023 and the cotton, pearl millet, mustard, and sorghum portfolio from Bayer in 2021. Between 2018 and 2022, Crystal acquired several agrochemical and seed brands from major multinational companies such as Syngenta, FMC, and Dow-Corteva, among others. Additionally, the company acquired a manufacturing facility from the Solvay Group in 2018.

Artha Arbitrage Consulting, a Hyderabad-based financial consulting firm, advised I&B on this transaction.